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 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
