Howard McDowall, director and general manager of Luba Freeport, talks to TOGY about drilling activity in Equatorial Guinea, port development and expectations for the…
READ MOREEquatorial Guinea's Energy Industry
in figures
Oil reserves1.1 billion barrels
Oil production161,000 bpd
Gas reserves42.5 bcm
Gas production4.57 bcm
Equatorial Guinea: A Doorway to West Africa
Equatorial Guinea’s oil and gas industry rose dramatically in importance after large discoveries were first made in 1996. Since then, development of its hydrocarbons resources has accelerated and now makes up around 60% of the country’s GDP. Despite a land area of just 28,000 square kilometres, the nation holds some of the largest oil and gas reserves on the continent, which drove it to become a member of OPEC in 2017. E&P activities are overseen by the Ministry of Mines and Hydrocarbons, which hands out PSCs and regulates activities.
The majority of the country’s oil and gas production and export come from the offshore Zafiro field on Block B, operated by ExxonMobil. on the Gulf of Guinea, close to the country’s border with Nigeria. The development is supported by several FPSOs that have been juggled on the block since it began production in 1996. Further exploration activities are required to balance the nation’s falling reserves.
Equatorial Guinea is seeking foreign investment to make the nation a trade hub for gas in the region, including with Cameroon and Nigeria. The Gas Mega Hub initiative set down by the government looks to develop and expand onshore processing infrastructure, with additional hubs throughout the region to offtake gas from stranded reserves on the country’s borders. Although the country of 1.4 billion has continued to make efforts to diversify its economy beyond hydrocarbons-based revenues, commercialisation and fiscal challenges remain its key hurdles.
Panoro Energy has secured the Noble Venturer drillship for a campaign in Equatorial Guinea's offshore Block G.
READ MOREPetrofac has been awarded a contract valued at around USD 350 million by Equatorial Guinea's NOC, GEPetrol.
READ MOREPanoro Energy has reached an agreement with the government of Equatorial Guinea for the award of offshore Block EG-23.
READ MOREVaalco Energy has received final approval from the government of Equatorial Guinea to develop offshore Block P.
READ MOREAngola is modernising its logistics network in a move to diversify its economy and capitalise on its geographical location.
READ MORETiago Ferreira of TLC Angola talks about the company’s evolving operations in Angola’s energy sector.
READ MOREJuan Antonio Ndong Ondo, director-general of Sonagas, talks to TOGY about the company’s short- and mid-term objectives, and Equatorial Guinea’s capacity as an LPG…
READ MOREThe Fortuna FLNG project offshore Equatorial Guinea is not expected to start producing gas until 2022, operator Ophir Energy said in a full-year statement released…
READ MOREEquatorial Guinea and Mozambique will work together in oil and gas industry matters, local media reported over the weekend.
Mozambique’s Minister of Mineral…
READ MORECitizens for Innovation, Equatorial Guinea’s main opposition party, has been disbanded by court order, state media reported on Tuesday.
“The dissolution is the…
READ MOREUS-based oil and gas producer Kosmos Energy has refinanced its reserves-based lending (RBL) facility to include recent acquisitions in Equatorial Guinea, the company…
READ MOREEquatoguinean President Teodoro Obiang Nguema over the weekend issued a decree to dissolve the country’s government, local media reported.
With the ordinance,…
READ MOREEquatorial Guinea’s government says that it has thwarted an attempted coup, international media reported Wednesday.
According to government authorities, in late…
READ MOREThe partners in the Fortuna FLNG project in Equatorial Guinea are seeking to raise up to USD 1.2 billion in funding through an Asian bank, Ophir Energy announced on…
READ MOREExxonMobil has struck oil in the Avestruz-1 well in Block EG-06, the Ministry of Mines and Hydrocarbons of Equatorial Guinea announced on Monday.
The super-major is…
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