High picture: Trident Power
Equatorial Guinea will launch its extremely anticipated EG Ronda 2026 licensing spherical at this yr’s African Power Week (AEW) later this month. The licensing spherical types a part of the nation’s broader technique to revitalize its upstream sector, appeal to new funding and unlock exploration and manufacturing alternatives offshore.
In preparation for EG Ronda 2026, the Ministry of Hydrocarbons and Mining Growth has partnered with U.Ok.-based Searcher Seismic on a $60 million program to amass and reprocess 2D and 3D seismic information throughout uncharted acreage. The initiative goals to supply potential buyers with high-quality datasets, de-risking exploration and spotlight frontier potential throughout Equatorial Guinea’s offshore basins.
The licensing spherical comes at a pivotal second for Equatorial Guinea, with a collection of current developments underscoring renewed worldwide curiosity within the nation’s oil and gasoline sector.
In June 2025, power main ConocoPhillips transported its inaugural LNG cargo from the Punta Europa facility, advancing the nation’s flagship Fuel Mega Hub initiative. Following its 2024 acquisition of Marathon Oil, ConocoPhillips now holds pursuits within the Alba Unit and Block D, securing long-term participation in each gasoline and liquid growth. This firm can also be present process an infill drilling marketing campaign in Alba Block, Unbiased operator Trident Power continues to ship robust outcomes from Block G – house to the Ceiba and Okume fields – the place it holds a 40.375% operated stake. In late 2024, the corporate introduced on-line its first infill nicely and is enhancing subsea integrity via a digital twin answer developed with Canadian know-how agency Enaimco.
Upstream oil firm Kosmos Power, a companion in Block G with a 40% taking part curiosity, just lately accomplished an exploration drilling marketing campaign and is reprocessing seismic information with superior know-how to high-grade future alternatives. Each firms are targeted on sustaining manufacturing whereas de-risking future growth, reinforcing Equatorial Guinea’s standing as a hub for upstream funding.
Panoro Power has additionally expanded its footprint with the signing of a manufacturing sharing contract (PSC) for Block EG-23, in partnership with Equatorial Guinea’s nationwide oil firm (NOC) GEPetrol. The shallow-water block covers 600km2 and holds an estimated 104 million barrels of oil and condensate and 215 billion cubic ft of gasoline in contingent assets. Panoro Power is initially endeavor subsurface research earlier than shifting into exploration drilling, highlighting the untapped potential of Equatorial Guinea’s offshore acreage.
In the meantime, hydrocarbon exploration firm Vaalco Power is advancing growth of Block P, which holds the Venus discovery and over 20 million bbls of recoverable oil. With a remaining funding choice anticipated quickly, the venture is focusing on first oil in 2026 and peak output in 2028.
Chevron just lately signed two new PSCs for Blocks EG-06 and EG-11, representing a $2 billion funding with NOC GEPetrol. Positioned close to the Zafiro area, the blocks embody deepwater acreage and a previous discovery at Avestruz-1. The agreements underscore the renewed confidence of worldwide majors in Equatorial Guinea’s useful resource base and financial atmosphere, because the nation positions itself for a brand new period of exploration-led development.
On the regulatory aspect, Equatorial Guinea is concentrated on being extremely aggressive on a worldwide scale. Important regimes have simply gone or are going below a revision for optimization. The oil and gasoline firms had been very instrumental to the current reform of the Tax Regime, in addition to the reform of the Labor Regime. The reform of the Petroleum Regime is claimed to be lively by the tip of the yr 2025.
“EG Ronda 2026 represents a significant step in unlocking Equatorial Guinea’s offshore and onshore potential. It can appeal to main buyers, drive exploration and stimulate sustainable development. We’re dedicated to providing world-class fiscal and regulatory phrases to assist this growth” commented Minister Ondo.
