TOGY spoke with Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons at The Oil & Gas Year Equatorial Guinea 2016 Strategic Roundtable.
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 MORETOGY talks to Trinidad and Tobago’s former Minister of Energy and Energy Affairs Kevin Ramnarine about current deepwater plays and how he views the future of…
READ MOREAkin Odumakinde, CEO DeltaTek Group, talks to TOGY about the company’s role in Equatorial Guinea and his predictions for the future of exports and international trade…
READ MORENathalie Lum, a senior partner at M&L Consulting, speaks to TOGY about investment opportunities and hindrances in Equatorial Guinea. M&L Consulting is a consulting and…
READ MOREMarathon Oil Corporation has achieved first gas production through its Alba B3 platform, the company announced on Thursday. The Alba project will see the company tap…
READ MOREAlfredo Jones, the managing director of Alduco Engineering Services, speaks to TOGY about the challenges in the oil and gas industry in Equatorial Guinea, meeting…
READ MOREEquatorial Guinea’s Ministry of Mines and Hydrocarbons has signed a memorandum of understanding with Shell, Minister of Mines and Hydrocarbons Gabriel Mbaga Obiang…
READ MOREHoward McDowall, director and general manager of Luba Freeport, discusses with TOGY the plans to expand the quay at Luba, as well as obstacles to Equatorial Guinea’s…
READ MOREOliver Quinn, director of Africa and Global New Ventures at Ophir Energy, speaks to TOGY about the long-term advantages of FLNG technology as well as how Ophir has been…
READ MORETOGY speaks to César Hinestrosa Gómez, director general of the Extractive Industries Transparency Initiative (EITI) & Industry at the Ministry of Mines, Industry and…
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