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Equatorial Guinea Overview

Equatorial Guinea

in figures

Oil Reserves1.1 billion barrels

Oil Production199,000 bpd

Gas Reserves145 bcm

Gas Production10 bcm

Equatorial Guinea: A Doorway to West Africa

Equatorial Guinea is among the largest oil producers in Africa, with an output of 280,000 bopd in 2016. Oil and gas exports have been central to the country’s growth and are expected to continue driving the economy going forward as it diversifies along the oil and gas value chain. As of 2016, the country has estimated reserves of 1.1 billion barrels of oil. The domestic oil and gas industry is relatively young. Large oil reserves were first discovered in 1996. Within a decade, Equatorial Guinea’s oil production rose from 17,000 bopd in 1996 to a record 375,000 bopd in 2005. Additional development of existing oil and gas deposits continues along with new exploration and development in other offshore concessions.

Low oil prices have affected the local industry, slowing or halting several operations. Still, Equatorial Guinea is moving forward. In June 2017, the Ministry of Mines awarded several blocks to the winners of the Ronda 2016 licensing round, and ExxonMobil struck oil in the Avestruz-1 well in Block EG-06 in December 2017. Ophir Energy and its partners are expected to announce the final investment decision for the Fortuna FLNG project in 2018.

Besides investing in the further development of its upstream sector, Equatorial Guinea looks to benefit from its geographical location and facilities, becoming a regional energy hub. Facilities such as the Bioko Oil Terminal, Luba Freeport and REPEGE project will bring the country closer to realising these aspirations.

All these developments are covered in The Oil & Gas Year Equatorial Guinea 2018, which is currently in production. For a comprehensive view of Equatorial Guinea’s market, see our business intelligence platform TOGYiN. TOGYiN features profiles on companies and institutions active in Mexico’s oil and gas industry, and provides access to all our coverage and content, including our interviews with key players and industry leaders. TOGYiN currently covers 35 markets worldwide.

Equatorial Guinea maps

Equatorial Guinea Oil & Gas Licensing Blocks 2016

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RoyalGate gets Equatorial Guinea block extension

RoyalGate gets Equatorial Guinea block extension

January 29, 2019

RoyalGate Energy has extended its licence for Block Z offshore Equatorial Guinea for an unspecified period of time, the…

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The Uganda International Oil & Gas Summit UIOGS NEWS
Ophir to leave key EG block
January 07, 2019

The Ministry of Mines and Hydrocarbons of Equatorial Guinea has decided not to extend Ophir Energy’s licence for Block R after it expired days ago, the company…

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Nicolás Nguema Bibang Nzang, general director of Sociedad de Electricidad de Guinea Ecuatorial (SEGESA), talks to TOGY about how the company’s new developments will…

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Gabriel Mbaga Obiang Lima, Equatorial Guinea’s minister of mines and hydrocarbons, talks to TOGY about the lessons learned from the global oil price downturn and the…

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Lisandro Abrego, deputy division chief of the IMF’s African department, talks to TOGY about its assessment of Equatorial Guinea’s economy under the fund’s 2018…

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