Saturday, February 8, 2025
By inAfrika Correspondent,
JOHANNESBURG, South Africa – Equatorial Guinea is set to reinvigorate its upstream sector with the launch of a new licensing round in 2025. This initiative seeks to attract fresh investment, enhance exploration activities, and ensure the nation’s long-term energy security.
With global energy dynamics shifting and production from mature fields declining, the introduction of new exploration opportunities is critical. Equatorial Guinea aims to secure sustained revenue generation, attract advanced technology, and provide a platform for both international and domestic companies to contribute to its energy future.
Under the leadership of Minister of Mines and Hydrocarbons Antonio Oburu Ondo, Equatorial Guinea has maintained a proactive stance in fostering investment in the hydrocarbon sector. While specific technical details are yet to be disclosed, the upcoming licensing round is expected to build upon past successes, solidifying the country’s role as a key player in Africa’s oil and gas industry. By expanding exploration opportunities, Equatorial Guinea is taking decisive steps to unlock its full resource potential and maintain a sustainable energy supply for the future.
“The significance of exploration cannot be understated. Licensing rounds are essential for Africa’s upstream industry, keeping production levels robust and enabling new discoveries that fuel economic growth. Equatorial Guinea’s dedication to exploration reflects its long-term strategic vision, and the AEC fully supports these efforts,” stated Tomás Gerbasio, VP Commercial and Strategic Engagement at the African Energy Chamber.
Equatorial Guinea’s last licensing round in 2019 saw substantial industry participation, with 27 exploration blocks on offer, attracting 53 companies and generating 17 bids. The 2025 licensing round is expected to feature key blocks, including Block H and Block 02, previously operated by Atlas Oranto Petroleum and PanAtlantic Energy (Vanco Energy).
Recent activity in the sector underscores the country’s investment potential. In November 2024, Trident Energy reported successful production from its C-45 infill well, part of its ongoing program at the Ceiba and Okume Complex in Block G, adding over 5,000 barrels per day. Meanwhile, Chevron has strengthened its presence with new Production Sharing Contracts (PSCs) for Blocks EG-06 and EG-11, complementing its existing investments in the Alen, Aseng, and Yolanda fields. Chevron, through its affiliate Noble Energy and in partnership with Marathon Oil, is advancing the next phases of the Gas Mega Hub, integrating gas from Alba and Aseng fields in Phases II and III, respectively. VAALCO Energy is also spearheading drilling and development in Block P, having finalized a PSC in August 2024.
GEPetrol, Equatorial Guinea’s national oil company, is taking bold steps to boost production capacity, particularly in the Zafiro field. After assuming operatorship from ExxonMobil in June 2024, GEPetrol initiated a phased development plan to extend the life of this offshore asset in Block B.
In April 2024, GEPetrol awarded Petrofac a $350 million, five-year technical services contract to support operations across onshore bases, an FPSO, and offshore platforms, further reinforcing its commitment to enhanced production.
Beyond increasing domestic production, the licensing round is expected to drive job creation, infrastructure development, and local capacity building. It will further position Equatorial Guinea as a regional energy hub, strengthening its ability to supply both domestic and international markets.
With Africa seeking to maximize the value of its natural resources amid shifting global energy policies, Equatorial Guinea’s strategic move to attract new investments and foster exploration underscores its commitment to energy security, economic diversification, and industry sustainability. African Energy Week (AEW): Invest in African Energies remains the premier platform for oil and gas exploration, farm-in and farm-out opportunities, and technical discussions. AEW looks forward to supporting Equatorial Guinea in promoting its licensing round and ensuring Africa remains a competitive energy investment destination.
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