SBM Offshore announced on Thursday that it has agreed to pay USD 238 million to settle bribery charges in the USA linked to corruption in Brazil, Equatorial Guinea,…
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 MOREHess Corporation has closed the sale of its assets offshore Equatorial Guinea to Kosmos Energy and Trident Energy, the company announced on Tuesday.
“Our 2017…
READ MOREA French court found Equatorial Guinea’s vice-president, Teodorin Obiang, guilty of embezzlement, money laundering, corruption and abuse of trust on…
READ MOREKosmos Energy and Trident Energy will acquire Hess Corporation’s stake in the offshore Ceiba and Okume oilfields, Kosmos announced Monday.
A JV between the two…
READ MOREKosmos Energy and Trident Energy signed three PSCs with the Ministry of Mines and Hydrocarbons of Equatorial Guinea and NOC GEPetrol on Monday.
Kosmos and Trident…
READ MOREOphir Energy signed an MoU with GEPetrol and the Ministry of Mines and Hydrocarbons of Equatorial Guinea for Block EG-24, the company announced Tuesday.
Under the…
READ MOREOphir Energy has awarded an upstream construction contract for the Fortuna FLNG project to Subsea Integration Alliance, the independent announced Monday.
Subsea…
READ MOREEquatorial Guinea has signed a three-year MoU for the sale of LNG to Burkina Faso, the Equatoguinean Ministry of Mines and Hydrocarbons announced on Monday.
The deal…
READ MOREThe governments of Equatorial Guinea and Cameroon signed a MoU on the joint development of the Yoyo-Yolanda gas and condensate field Monday.
As part of the agreement,…
TOGY speaks to David Borde, managing director of PetroCom Technologies, about the “perceived” gas shortage in the country. PetroCom Technologies is a technological…
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