Equatorial Guinea to Launch EG Ronda 2026 Licensing Round at African Energy Week (AEW) 2025 Amid Surge in Upstream Investment
Equatorial Guinea will launch its highly anticipated EG Ronda 2026 licensing round at this year’s African Energy Week (AEW): Invest in African Energies, taking place from September 29 to October 3 in Cape Town. The licensing round takes place Monday 29 September and forms part of the country’s broader strategy to revitalize its upstream sector, attract new investment and unlock exploration and production opportunities offshore. The licensing round will be officially unveiled during a high-level session – Equatorial Guinea’s New Exploration Drive – at AEW: Invest in African Energies 2025, led by Antonio Oburu Ondo Minister of Hydrocarbons and Mining Development, Equatorial Guinea. During this session, detailed geological data will be presented, offering investors insight into the structure, stratigraphy and prospectivity of Equatorial Guinea’s offshore basins.
In preparation for EG Ronda 2026, the Ministry of Hydrocarbons and Mining Development has partnered with U.K.-based Searcher Seismic on a $60 million program to acquire and reprocess 2D and 3D seismic data across uncharted acreage. The initiative aims to provide prospective investors with high-quality datasets, de-risking exploration and highlight frontier potential across Equatorial Guinea’s offshore basins. By offering robust technical data packages, the government seeks to boost competitiveness, restore investor confidence and strengthen long-term energy security.
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 www.AECWeek.com for more information about this exciting event.
The licensing round comes at a pivotal moment for Equatorial Guinea, with a series of recent developments underscoring renewed international interest in the country’s oil and gas sector.
In June 2025, energy major ConocoPhillips transported its inaugural LNG cargo from the Punta Europa facility, advancing the country’s flagship Gas Mega Hub initiative. Following its 2024 acquisition of Marathon Oil, ConocoPhillips now holds interests in the Alba Unit and Block D, securing long-term participation in both gas and liquid development. This company is also undergoing an infill drilling campaign in Alba Block, Independent operator Trident Energy continues to deliver strong results from Block G – home to the Ceiba and Okume fields – where it holds a 40.375% operated stake. In late 2024, the company brought online its first infill well and is enhancing subsea integrity through a digital twin solution developed with Canadian technology firm Enaimco. Upstream oil company Kosmos Energy, a partner in Block G with a 40% participating interest, recently completed an exploration drilling campaign and is reprocessing seismic data with advanced technology to high-grade future opportunities. Both companies are focused on sustaining production while de-risking future development, reinforcing Equatorial Guinea’s status as a hub for upstream investment.
Oil and gas company Panoro Energy has also expanded its footprint with the signing of a production sharing contract (PSC) for Block EG-23, in partnership with Equatorial Guinea’s national oil company (NOC) GEPetrol. The shallow-water block covers 600km2 and holds an estimated 104 million barrels of oil and condensate and 215 billion cubic feet of gas in contingent resources. Panoro Energy is initially undertaking subsurface studies before moving into exploration drilling, highlighting the untapped potential of Equatorial Guinea’s offshore acreage.
Meanwhile, hydrocarbon exploration company Vaalco Energy is advancing development of Block P, which holds the Venus discovery and over 20 million barrels of recoverable oil. With a final investment decision expected soon, the project is targeting first oil in 2026 and peak output in 2028. The entry of Vaalco Energy to Equatorial Guinea marks another milestone in the country’s drive to restore production growth.
Multinational energy corporation Chevron entered Equatorial Guinea by acquiring Noble Energy. This major recently signed two new PSCs for Blocks EG-06 and EG-11, representing a $2 billion investment with GEPetrol. Located near the Zafiro field, the blocks include deepwater acreage and a prior discovery at Avestruz-1. The agreements underscore the renewed confidence of international majors in Equatorial Guinea’s resource base and fiscal environment, as the country positions itself for a new era of exploration-led growth.
As the country’s NOC, GEPetrol is driving the transformation of Equatorial Guinea’s upstream sector through strategic partnerships, deepwater field redevelopments and targeted operational advancements. By optimizing legacy assets, accelerating exploration and implementing technical innovations, the company is aiming at boosting production, strengthening operational efficiency and reinforcing its position as a premier national operator. Equatorial Guinea’s offshore geology is characterized by deepwater and shallow-water sedimentary basins rich in hydrocarbons. The region features a mix of Tertiary and Cretaceous reservoirs, with proven structural traps and complex stratigraphic plays. Significant potential exists in both proven fields and underexplored frontier acreage, particularly in the deepwater areas, where high-quality reservoirs and source rocks create exploration targets for oil and gas development.
On the regulatory side, Equatorial Guinea is focused on being highly competitive on a global scale. Essential regimes have just gone or are going under a revision for optimization. The oil and gas companies were very instrumental to the recent reform of the Tax Regime, as well as the reform of the Labor Regime. The reform of the Petroleum Regime is said to be active by the end of the year 2025.
“EG Ronda 2026 represents a major step in unlocking Equatorial Guinea’s offshore and onshore potential. It will attract leading investors, drive exploration and stimulate sustainable growth. We are committed to offering world-class fiscal and regulatory terms to support this development” states Minister Ondo.
“Against this backdrop of heightened activity, EG Ronda 2026 will serve as the official platform to unlock the next wave of investment and exploration success in Equatorial Guinea. The licensing round offers new acreage opportunities to explore proven and innovative plays in modest water depths, with world-class fiscal packages and increasingly attractive terms. By offering improved and competitive fiscal frameworks alongside high-quality exploration potential, EG Ronda 2026 will launch the next era of exploration success when Equatorial Guinea will become, again, a global exploration and commercial hotspot for the industry.”
Click here (https://apo-opa.co/4nb9GWi) for your exclusive invitation to EG Ronda 2026.
Distributed by APO Group on behalf of African Energy Chamber.
