Equatorial Guinea has launched a comprehensive initiative to address declining gas production and maximize its untapped hydrocarbon reserves. The strategy aims to drive economic growth and enhance market stability through investment-friendly policies, new drilling campaigns and fiscal reforms.
Speaking at the Strategic Roundtable on Africa during this year’s CERAWeek in Houston, Minister of Mines and Hydrocarbons Antonio Oburu Ondo emphasized Equatorial Guinea’s renewed focus on exploration as the key to reversing production declines. The government has approved new fiscal terms to enhance the country’s competitiveness, with additional production-sharing contract revisions expected by next year.
“We expect an increase in market participation as the new regulations come into effect,” said Minister Oburu Ondo.
Equatorial Guinea’s open-door policy continues to attract investors, with eight new contracts signed in recent months. Global energy firms, including ConocoPhillips, Chevron, Trident Energy and Africa Oil Corp., are among those expected to expand their presence. To further encourage investment, the government is streamlining access to hydrocarbon data, implementing a new multi-client data strategy by the end of the year to ensure timely access for interested investors. A new licensing round is also set to launch before year-end, offering fresh opportunities for international investors.
Addressing industry challenges, Equatorial Guinea is working to ease banking restrictions imposed by the Bank of Central African States, with plans to implement exceptions for major operators and service companies where necessary, according to the Minister.
The country is also advancing its Gas Mega Hub initiative to solidify its role as a key gas supplier in Africa. Equatorial Guinea is prioritizing partnerships with Cameroon and Nigeria to monetize gas from fields such as the Aseng Field within its waters. Negotiations are underway with both countries, as well as operators like Chevron and ConocoPhillips, to secure gas supplies for liquefaction plants. Development plans for Block EG-27 are progressing, reinforcing Equatorial Guinea’s position in the regional energy market.
“Gas is not only a transition fuel for us – it will also be energy for the future,” said Minister Oburu Ondo, highlighting the country’s long-term commitment to hydrocarbon development. To that end, Equatorial Guinea remains engaged in securing gas supplies from both domestic fields and neighboring countries, ensuring continued LNG production and exports.
Efforts by Equatorial Guinea to enhance its hydrocarbons sector and the vast lucrative opportunities within the country will be further showcased during the upcoming African Energy Week (AEW): Invest in African Energies. The event will feature Equatorial Guinea’s regulatory authorities, key project operators and global investors on deal signings and partnership formation.
AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.aecweek.com for more information about this exciting event.
