Latest news with #AntonioOburuOndo
Zawya
07-05-2025
- Business
- Zawya
Equatorial Guinea Showcases Bold Energy Reforms and Investment Opportunities as Hydrocarbons Minister Joins African Energy Week (AEW) 2025
Equatorial Guinea's Minister of Hydrocarbons and Mining Development, Antonio Oburu Ondo, has been confirmed to speak at African Energy Week (AEW): Invest in African Energies 2025, taking place from September 29 to October 3 in Cape Town. His participation underscores Equatorial Guinea's renewed push to attract global investment through a bold reform agenda and reenergized licensing framework. At a time when global energy investors are seeking growth markets, Equatorial Guinea is positioning itself as one of the most attractive upstream destinations on the continent. The country's relaunch of its open-door licensing process – combined with a sweeping reduction in fiscal barriers – signals a strong commitment to investor confidence and competitive returns. Equatorial Guinea has reduced corporate tax from 35% to 25%, slashed dividends tax from 25% to 10% and lowered withholding tax from 6.25% to 3% for residents (and from 15% to 10% for non-residents). These reforms, designed to ease entry and improve margins, reflect a strategic shift toward creating one of Africa's most investor-friendly oil and gas environments. The next licensing round is scheduled for late 2025 or early 2026, offering ample time for companies to engage ahead of the bid process. AEW 2025 will serve as a key platform for Minister Ondo to outline the country's energy roadmap, promote high-impact exploration assets and engage directly with prospective partners. Equatorial Guinea's energy outlook is anchored in ambitious regional integration and gas monetization strategies, offering long-term value across the entire energy chain. A centerpiece of this strategy is the Gas Mega Hub initiative – a multi-phase infrastructure plan to transform Equatorial Guinea into a leading gas processing and export center. Strategic collaborations with Cameroon and Nigeria, including the Yoyo-Yolanda fields and the Gulf of Guinea Pipeline Project, will bolster feedstock supply to the country's Punta Europa facilities. Ongoing projects such as the Alen Gas Monetization Project, Alba Tail Gas Project and Aseng Gas Project further enhance value through reduced flaring, enhanced gas utilization and increased LNG exports. The country is also ramping up exploration readiness through a new multi-client 3D seismic acquisition campaign, supported by reprocessed legacy data to improve geological insight and reduce risk for investors. Every active operator in Equatorial Guinea is planning or executing exploration and in-field drilling campaigns between 2024 and 2027, reflecting growing confidence in the country's operating environment. 'Equatorial Guinea is not only reforming its energy sector – it's actively reimagining its role as a top-tier investment destination. By combining fiscal competitiveness with ambitious regional gas infrastructure, the country offers a compelling case for global companies looking to grow their footprint in African energy. Minister Ondo's presence at AEW 2025 is a clear signal that Equatorial Guinea is open for business – and ready to partner,' states NJ Ayuk, Executive Chairman of the African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber. About AEW: Invest in African Energies: AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event.
Zawya
17-03-2025
- Business
- Zawya
Equatorial Guinea Relaunches Open-Door Licensing Process in Houston, Texas, Paving the Way for Major 2025/2026 Licensing Round
Equatorial Guinea has officially relaunched its open-door licensing process for 2025, setting the stage for a major licensing round at the end of 2025 or early 2026. This move marks a strategic shift toward prioritizing licensing and exploration, with a strong focus on regulatory competitiveness, tax incentives and data transparency. These developments will take center stage at African Energy Week (AEW) 2025: Invest in African Energies, taking place in Cape Town on September 29-October 3, where the 'Invest in African Energies: Equatorial Guinea' session will provide a platform for global investors to engage with the country's evolving energy strategy. Equatorial Guinea's Minister of Mines and Hydrocarbons, Antonio Oburu Ondo, outlined the country's comprehensive exploration strategy at CERAWeek in Houston last week, aimed at boosting hydrocarbon production, attracting investment, addressing declining output and enhancing competitiveness. Fiscal reforms include reducing corporate tax from 35% to 25%, dividends tax from 25% to 10%, and withholding tax from 6.25% to 3% for residents (or from 15% to 10% for non-residents). The country's open-door policy enables international oil and gas companies to apply for licenses through a streamlined process involving direct negotiation with the state. The government's aggressive promotion policy has already yielded results, with seven new production-sharing contracts awarded in record time. These include blocks EG-31 and EG-18 to Africa Oil Corp, blocks EG-11 and EG-06 to Chevron, blocks EG-23 and EG-01 to Panoro Energy and Block EG-08 to Antler Global. The next licensing round will be underpinned by a new competitive tax law, a strengthened hydrocarbons law and the launch of a multi-client 3D seismic acquisition initiative – all aimed at boosting investor confidence and accelerating exploration. The new multi-client 3D seismic acquisition and reprocessing of legacy data is set to launch by year-end, ensuring that investors have access to high-quality geological insights. This initiative will be highlighted at AEW 2025, where industry leaders will explore how enhanced data-sharing and transparency can drive exploration success across Africa. These efforts directly support an intensified focus on drilling, with all the country's operators having either executed in-field or exploration drilling campaigns in 2024 or planning to do so between 2025 and 2027, according to Minister Oburu Ondo. Equatorial Guinea's Gas Mega Hub initiative remains a key pillar of its energy strategy, with ongoing collaborations with Cameroon on the Yoyo-Yolanda fields and Nigeria on the Gulf of Guinea Pipeline Project to monetize and process gas at the onshore Punta Europa facilities. The country is advancing multi-phase initiatives including the Alen Gas Monetization Project (580 BCF), Alba Tail Gas Monetization Project (825 BCF) and Aseng Gas Monetization Project (~1 TCF) to strengthen its position as a regional gas powerhouse. The government is also making strides in climate initiatives, working to reposition Equatorial Guinea as a leader in gas and transitional energy while establishing carbon credit ventures through international collaborations. As Africa works to attract investment to transform its energy sector, Equatorial Guinea's strategic reforms provide a model for other nations, demonstrating how regulatory competitiveness, investor-friendly policies and a robust licensing framework can drive long-term success. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
08-02-2025
- Business
- Zawya
Equatorial Guinea Set to Boost Exploration by Attracting New Investors in 2025
Equatorial Guinea is taking decisive steps to revitalize its upstream sector, with plans to launch a new licensing round in 2025 aimed at increasing exploration and production. With the global energy landscape evolving and production from mature fields declining, the promotion of new acreage is essential to ensuring long-term energy security and continued revenue generation for Equatorial Guinea. A successful licensing round will attract much-needed capital, bring in new technologies and create opportunities for both international and local players to participate in the country's energy future. Under the leadership of Minister of Mines and Hydrocarbons, Antonio Oburu Ondo, Equatorial Guinea has demonstrated a proactive approach to fostering investment in its hydrocarbon sector. While technical details have not yet been disclosed, the upcoming round is expected to build on past successes, reinforcing the country's position as a key oil and gas producer in Africa. By opening new opportunities for exploration, Equatorial Guinea is taking bold steps to unlock its full resource potential and ensure a sustainable supply of energy for years to come. 'The importance of exploration cannot be overstated. New licensing rounds are the lifeblood of Africa's upstream industry, ensuring that production levels remain strong and that new discoveries continue to fuel our economies. Equatorial Guinea's commitment to advancing exploration is a testament to its strategic vision, and the AEC fully supports these efforts,' states Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber. Equatorial Guinea's last licensing round, held in 2019, offered 27 blocks for exploration and attracted significant industry interest, with 53 companies participating and 17 bids submitted. Blocks available in the upcoming round will include Block H and Block 02, previously operated by Atlas Oranto Petroleum and PanAtlantic Energy (Vanco Energy). The licensing round is part of a dynamic wave of activity unfolding in the country. In November, Trident Energy announced successful production from its C-45 infill well, one of two wells in its ongoing infill drilling program at the Ceiba and Okume Complex in Block G, adding over 5,000 barrels per day. In June 2024, Chevron signed new PSCs for blocks EG-06 and EG-11, outlining minimum investment commitments and exploration programs and building on the company's existing interests in the Alen, Aseng and Yolanda fields. Through its affiliate Noble Energy and in partnership with Marathon Oil, Chevron is also advancing the next phases of the Gas Mega Hub. Phase II will focus on processing gas from the Alba field, while Phase III will integrate gas from the Aseng field. Meanwhile, VAALCO Energy is set to lead a drilling program and field development push for Block P, having finalized a PSC for the asset in August. National oil company GEPetrol is also focused on boosting production capacity, with the Zafiro field at the center of its revitalization efforts. After taking over operatorship from ExxonMobil in June 2024, GEPetrol launched a multi-phase development plan to extend production from the country's largest oil field in offshore Block B. Phase 1, set to begin in early 2025, will reconnect selected wells that were previously produced via tiebacks to the Zafiro Producer floating production unit. Running parallel to this, Phase 2 will focus on optimizing well production and costs, while Phase 3 will involve a full-scale redevelopment of the field from 2025 onward. In April 2024, GEPetrol awarded Petrofac a five-year, $350 million technical services contract, with the partnership supporting the world-class operation across onshore bases, an FPSO and a platform and reinforcing efforts to enhance production. Beyond bolstering domestic production, a successful licensing round will have far-reaching benefits, including job creation, infrastructure development and enhanced local capacity. It will also strengthen the country's role as a regional energy hub, providing additional supply to both domestic and international markets. Equatorial Guinea's upcoming licensing round comes at a crucial time when Africa is positioning itself to maximize the value of its resources amid shifting global energy policies. By attracting new investments and driving exploration, the country is reinforcing its commitment to energy security, economic diversification and long-term industry sustainability. African Energy Week (AEW): Invest in African Energies is the official home of African exploration for oil and gas, Farm In and Farm Out and technical sessions. AEW: Invest in African Energies looks forward to working alongside Equatorial Guinea in promoting this opportunity and ensuring that Africa remains a competitive and attractive destination for energy investments. Distributed by APO Group on behalf of African Energy Chamber.
