Equatorial Guinea has embarked on a comprehensive initiative to counteract declining gas production and optimize its untapped hydrocarbon reserves. The strategy aims to drive economic growth and market stability through investment-friendly policies, new drilling campaigns, and fiscal reforms.
During the Strategic Roundtable on Africa at CERAWeek in Houston, Minister of Mines and Hydrocarbons Antonio Oburu Ondo underscored the country’s renewed focus on exploration. The government has introduced revised fiscal terms to enhance competitiveness, with additional production-sharing contract adjustments anticipated next year.
Equatorial Guinea’s open-door investment policy has already led to the signing of eight new contracts with global energy firms, including ConocoPhillips, Chevron, Trident Energy, and Africa Oil Corp. To facilitate further investment, the government is implementing a multi-client data strategy to streamline access to hydrocarbon data and launching a new licensing round before the end of the year.
Additionally, the country is advancing its Gas Mega Hub initiative, seeking partnerships with Cameroon and Nigeria to monetize gas from fields such as the Aseng Field. Ongoing negotiations with major operators like Chevron and ConocoPhillips are expected to secure vital gas supplies for liquefaction plants.
Minister Oburu Ondo stressed the long-term importance of natural gas, stating, “Gas is not only a transition fuel for us – it will also be energy for the future.” Equatorial Guinea remains committed to securing gas supplies from both domestic and neighboring fields to sustain LNG production and exports.
Equatorial Guinea’s efforts to expand its hydrocarbons sector will be highlighted at the upcoming African Energy Week (AEW): Invest in African Energies, where regulatory authorities, project operators, and global investors will discuss new opportunities.
Source: Energy Capital and Power
