Equatorial Guinea will open a new oil and gas licensing round in April 2026 to stimulate exploration and counter declining crude production. This was announced by the country's Minister of Hydrocarbons and Mining Development, Antonio Oburu Ondo, as reported by Reuters.
"This round will be launched in the second quarter of 2026, once the timelines, application procedures, and additional information are finalized," he stated during his address at the Africa Energy Week conference in South Africa.
The licensing round, scheduled to run from April until November, will include 24 blocks, two of which are onshore, with the remainder located offshore.
This initiative follows the government's decision in August to expand geological surveys of the country's subsoil to obtain precise data on its mineral resources by engaging a foreign company.
The need to boost exploration activity is underscored by production challenges. According to March data from the Organization of the Petroleum Exporting Countries (OPEC), Equatorial Guinea's crude output once again fell below the quota set by the OPEC+ agreement.
The upcoming round continues the country's strategy of seeking international partnerships. In September 2024, President Teodoro Obiang Nguema Mbasogo expressed intentions to cooperate with Russia in the energy sector and invited Russian companies to participate in the exploration and exploitation of hydrocarbons.
In a separate regional development from August 2024, Nigerian President Bola Tinubu and his Equatorial Guinean counterpart signed an agreement to construct a gas pipeline across the Gulf of Guinea.
