Equatorial Guinea’s capital city, Malabo
Indies look to Equatorial Guinea as ExxonMobil pulls out
But even planned exploration activity is unlikely to reverse declining output from mature fields
Equatorial Guinea’s oil sector is in a period of transition. Output is declining, and ExxonMobil is set to depart the Central African nation soon, following years of operations. But at the same time, the OPEC member is also seeing plenty of IOC activity, while its NOC GEPetrol is poised to assume a greater role in the country’s upstream, so the outlook remains mixed. Equatorial Guinea’s oil and gas production is in a “long term trend of steady decline”, according to consultancy BMI. The country’s upstream is dominated by mature fields that have been in operation for years. Production of crude and other liquids totalled an estimated 139,900b/d last year, and BMI predicts that figure will fall
Also in this section
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
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
16 January 2025
The government’s resource nationalism is aggravating the NOC’s debt position and could yet worsen if also tasked with the decarbonisation shift
