Equatorial Guinea to launch a major oil and gas licensing round for 2025/2026

Equatorial Guinea has officially relaunched its open-door licensing process for 2025, paving the way for a major cycle scheduled for late 2025 or early 2026. Announced at CERAWeek 2025 in Houston by the Minister of Mines and Hydrocarbons, Antonio Oburu Ondo, this initiative reflects a strategic shift aimed at stimulating exploration, attracting investment and reversing the decline in hydrocarbon production through greater competitiveness and transparency.

Presented in Houston, the new exploration strategy is based on incisive tax reforms: corporation tax is cut from 35% to 25%, dividend tax from 25% to 10%, and withholding tax is reduced from 6.25% to 3% for residents (or from 15% to 10% for non-residents). These incentives, combined with a simplified granting policy based on direct negotiation with the government, have already won over a number of major players. In record time, seven production sharing contracts have been awarded, including to Africa Oil Corp (blocks EG-31 and EG-18), Chevron (EG-11 and EG-06), Panoro Energy (EG-23 and EG-01) and Antler Global (EG-08).

"These reforms aim to reposition Equatorial Guinea as a competitive destination for oil and gas investment," said Antonio Oburu Ondo. The next cycle will be underpinned by an optimised tax law, updated hydrocarbon legislation and a multi-client 3D seismic acquisition initiative, scheduled for completion by the end of 2025, to provide investors with reliable geological data.

The exploration effort is intensifying, with drilling campaigns already carried out in 2024 or planned between 2025 and 2027 by all the operators active in the country. The multi-client system for reprocessing existing seismic data and 3D acquisition will provide greater visibility of the potential of offshore blocks, boosting investor confidence. This approach aims to maximise the exploitation of resources, in a context where production has been declining in recent years.

At the heart of our energy strategy, the Gas Mega Hub project continues to make progress. This regional hub relies on partnerships with Cameroon (Yoyo-Yolanda fields) and Nigeria (Gulf of Guinea gas pipeline) to transport and process gas at the Punta Europa facilities. Three flagship gas monetisation projects are moving forward: Alen (580 BCF), Alba (825 BCF) and Aseng (around 1 TCF). These initiatives are designed to consolidate Equatorial Guinea's position as a key gas player in Central Africa.

At the same time, the country is committed to the energy transition. International collaboration on carbon credit projects and the use of gas as a transitional energy source bear witness to a desire to reconcile economic development with climate imperatives.

By relaunching its licensing cycle with advantageous conditions and an integrated vision, Equatorial Guinea is sending out a strong message: it is ready to exploit its oil and gas potential to the full. "We are combining regulatory competitiveness, data transparency and regional ambition to attract the partners we need to grow," concluded Minister Oburu Ondo. With these reforms and a sustained exploration drive, the country is repositioning itself as a key energy hub in Africa.