César A. Hinestrosa Gomez, director of industry and EITI at the Ministry of Mines, Industry and Energy speaks to TOGY about the country’s efforts to diversify its…
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 MOREMinister of Mines, Industry and Energy Gabriel Mbaga Obiang Lima announced on Friday that Equatorial Guinea’s upcoming bid round will launched at a conference in…
READ MOREFrida Ndong, base manager of the K5 Oil Centre, talks to TOGY about the current status of the centre amid low commodity prices and governmental stipulations regarding…
READ MOREOphir Energy and Schlumberger have failed to reach an agreement on a deal that would see the latter secure a 40% stake in the Fortuna floating LNG project in Equatorial…
READ MOREWilliam Barnes, country manager for Toss WA, speaks to TOGY about the associated services company’s efforts to survive the downturn in oil and gas prices, the need to…
READ MORESimon Smith, asset manager for Equatorial Guinea at Ophir Energy, speaks to TOGY about the long-term advantages of FLNG technology. He also discusses how Ophir has been…
READ MOREOphir Energy signed a heads of terms agreement with oil services giant Schlumberger on its Fortuna floating LNG project, the UK oil and gas exploration company…
READ MOREDutch marine services company SBM Offshore released a statement on Monday defending CEO Bruno Chabas and supervisory board member Setze Hepkema in a corruption scandal…
READ MOREIndependent exploration and production company Ophir Energy announced Wednesday that its Fortuna floating LNG project in Equatorial Guinea, Africa’s first, is moving…
READ MORESterling Energy bought a 13.5-percent interest in Block C-10 offshore Mauritania. The acquisition follows another 40.5-percent purchase in Block C-3 in the same…
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