Equatorial Guinea is a relative newcomer as an energy producer
Equatorial Guinea advances upstream ambitions
Recent deal with Chevron suggests the country’s upstream sector is gaining momentum
Chevron signed an agreement in December for a promising exploration block off the coast of Equatorial Guinea near the Cameroonian border. The US major now holds 80pc of block EG-09 in the Douala Basin and state-owned Gepetrol the remaining 20pc. The acreage was previously explored by South African NOC Petrosa and lies close to recent large discoveries. It sits directly south of block 1, where Chevron already produces oil from the three-year-old Aseng well. Also nearby is the highly lucrative Alen gas and condensate field, which the firm is developing via its subsidiary Noble Energy. The latest exploration agreement signals not only the US major’s growing interest in West Africa, but also the
Also in this section
21 January 2025
The new president must put his cards on the table and tell the American people, and the world, if the US is formally abandoning the energy transition
20 January 2025
Country offers to boost gas exports to Europe to 10bcm/yr, but serious questions remain
20 January 2025
The country’s oil and gas giant, KazMunayGas, is pushing ahead with a series of significant international partnerships
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
