Connect with us

Business

Equatorial Guinea, ConocoPhillips Sign Heads of Agreement (HOA) for Offshore Blocks, Unlocking $9B Investment Opportunity

Published

on

Equatorial Guinea

Block B/4 and EG-27 stand to drive Equatorial Guinean production as they both feature existing gas discoveries and are well-positioned to supply feedstock for the Punta Europa facility

JOHANNESBURG, South Africa, September 29, 2025/APO Group/ –Equatorial Guinea has signed a Heads of Agreement (HOA) with energy major ConocoPhillips for Blocks B/4 and EG-27 in a move set to unlock up to $9 billion in investments. The HOA outlines the terms for both blocks development and aims to reinforce the country’s position as a regional gas processing hub. As the country advances its national strategy to accelerate upstream growth and bring new production online, the HOA is seen as a pivotal step towards bolstering natural gas monetization in Central Africa.

 

Signed between ConocoPhillips, Equatorial Guinea’s Ministry of Hydrocarbons and Mining Development, national oil company (NOC) GEPetrol and national gas company SONAGAS, the agreement is not only a reflection of the government’s commitment to private-public partnerships, but ensures that these strategic blocks move towards the development phase at a rapid pace. Through the HOA, the partners have agreed to finalize the Production Sharing Contracts within six months, with the projects set to deliver over 20 years of production.

“This recent agreement is a strong reflection of the government’s commitment to working with foreign operators to advance the country’s exploration and production agenda. Block EG-27 and B/4 will not only support the country’s production growth, but unlock a wave of economic opportunities that will benefit the country for decades to come. By developing these blocks efficiently, we aim to restore production levels to those achieved before 2014 and maximize long-term value for the country,” stated Antonio Oburu Ondo, Minister of Hydrocarbons and Mining Development of Equatorial Guinea.

This recent agreement is a strong reflection of the government’s commitment to working with foreign operators to advance the country’s exploration and production agenda

Both blocks are highly promising and feature commercial gas discoveries. Notably, Block EG-27 is estimated to hold up to 2.8 trillion cubic feet (tcf) of gas while Block B/4 is home to an estimated 0.7 tcf. The estimated capital investment to bring these reserves into production is $9 billion, demonstrating the project’s long-term potential and the commitment of all stakeholders. At a time when Equatorial Guinea is realigning its policies, engaging global investors and promoting offshore exploration and production, the deal stands to support production growth by ensuring the development of commercially-viable assets.

Under the leadership of the Ministry of Mines and Hydrocarbons, Equatorial Guinea has been rapidly advancing the development of the natural gas value chain under efforts to cement its position as a regional gas processing hub. The recent HOA exemplifies the country’s strategy to foster a stable, transparent and investor-friendly environment while accelerating resource development in the region, demonstrating the Ministry’s commitment to working with partners to drive projects forward.

In addition to supporting production, the agreement signals ConocoPhillips’ commitment to strengthening Equatorial Guinea’s gas market. It follows a series of milestones by the company in recent months, including the export of the inaugural LNG cargo from the Punta Europa facility in June 2025. Advancing the country’s flagship Gas Mega Hub (GMH) – an initiative that aims to monetize stranded gas reserves in both domestic and regional markets – this milestone underscores Equatorial Guinea’s potential to become a major global gas player. The recently-signed HOA aims to strengthen feedstock for the Punta Europa facility, thereby supporting the success of the GMH. In addition to bolstering production, the development of Blocks EG-27 and B/4 will enhance the value of Punta Europa midstream infrastructure, supplying additional volumes to the facility.

The agreement comes as the Ministry of Mines and Hydrocarbons works to attract new investments in gas exploration and production. With major initiatives such as the GMH, the Ministry is working towards improving security of supply and driving sustainable economic growth. To support greater investment, the Ministry of Hydrocarbons and Mining Development is also preparing to launch its 2026 licensing round. With goals to cement its position as a regional gas hub, the country is promoting investments in a variety of blocks, with the upcoming bid round set to pave the way for exploration and production.

The African Energy Chamber, the voice of the African energy sector, fully supports this agreement as it strengthens Equatorial Guinea’s position as a regional gas hub, attracts long-term investment, and creates jobs. By advancing these blocks, the country is monetizing its resources and driving sustainable growth in line with Africa’s energy future.

Distributed by APO Group on behalf of African Energy Chamber.

Business

Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

Published

on

The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 

Continue Reading

Business

Beyond Stabroek: Guyana’s Offshore Basin Attracts New Wave of Exploration Investment

Published

on

As ExxonMobil advances appraisal activity in Stabroek and new operators target frontier acreage, Guyana is attracting global capital and building a diversified offshore portfolio designed to sustain long-term growth

GEORGETOWN, Guyana, August 7, 2026/APO Group/ –Guyana’s transformation into one of the world’s fastest-growing oil producers is entering a new phase, with a growing network of IOCs expanding exploration activity across the country’s offshore basin. Beyond the landmark discoveries that first put Guyana on the global energy map, new drilling campaigns and licensing partnerships are creating a broader exploration ecosystem designed to support long-term production growth.

At the center of this momentum is ExxonMobil’s continued exploration and appraisal activity in the prolific Stabroek Block. The company has submitted a proposal for a 35-well exploration and appraisal drilling campaign, expected to run from 2028 through 2033, pending regulatory approval. The program would build on more than 30 commercial discoveries already made in the block, with drilling activity focused on evaluating new prospects and appraising existing discoveries to support future development opportunities.

Exploration activity is also extending into Guyana’s frontier acreage, with ExxonMobil advancing drilling operations at the deepwater Canje Block. The company has deployed the Noble Stena Carron drillship for exploration activity, highlighting continued industry interest in evaluating Guyana’s underexplored offshore potential beyond the established Stabroek Block.

Guyana’s strong exploration outlook comes as the country’s economy continues to benefit from rapid oil sector expansion, with hydrocarbons expected to remain a key driver of exports, government revenues and economic growth. As production scales up, attracting additional investment across exploration, services and infrastructure will be critical to supporting the next phase of development.

That momentum is being reinforced through partnerships established under Guyana’s 2023 offshore licensing round. A consortium comprising TotalEnergies, QatarEnergy and Petronas is advancing exploration activities in Block S4 under a five-year production sharing agreement signed with the government in late 2025. The award represents one of the first major outcomes of the licensing round and demonstrates continued international confidence in Guyana’s offshore resource potential.

Beyond the largest operators, a diverse group of companies is also expanding activity across Guyana’s offshore basin. Eco Atlantic is advancing exploration at the Orinduik Block; CGX Energy and Frontera Energy are progressing work in the Corentyne Block; Occidental is evaluating opportunities in the Roraima Block; while Ratio Guyana and Cataleya Energy hold interests in the Kaieteur Block. Together, these partnerships are broadening Guyana’s exploration landscape, increasing competition for acreage and creating opportunities for future discoveries.

As Guyana transitions from an emerging producer to a global energy hub, the next challenge will be converting exploration success into sustainable investment, local value creation and regional growth. These opportunities will be explored at Caribbean Energy Week 2027, held under the theme “Unlocking the Caribbean Energy Corridor: Oil, Gas, LNG & Investment for a New Global Hub.” Bringing together governments, IOCs, investors and technology providers, the event will examine how Guyana’s expanding partnerships can accelerate offshore development, strengthen regional energy cooperation and attract the capital needed to support the Caribbean’s evolving energy landscape.

Distributed by APO Group on behalf of Energy Capital & Power.

Continue Reading

Business

Energy Capital & Power Establishes London Entity, Expanding Global Platform for Energy and Mining Events

Published

on

The move strengthens ECP’s presence in the UK and Europe, and its ability to connect African and South American markets with global investors

LONDON, United Kingdom, August 6, 2026/APO Group/ –International events company Energy Capital & Power (ECP) (www.EnergyCapitalPower.com) has officially established its UK entity in London, marking a milestone in the company’s growth strategy and reinforcing its ability to deliver world-class energy and mining events and campaigns in the UK and Europe.

By establishing a presence in a key hub like London – the pre-eminent energy and mining finance center – ECP actively shapes the global energy conversation. The expansion positions ECP to better serve clients, partners and investors seeking to develop business opportunities between Africa, Europe, the Americas and energy markets worldwide.

Opening our UK company brings ECP closer to key investors in the global energy finance capital

The milestone comes as ECP strengthens its reach through a series of investment platforms that connect global capital to energy and mining projects. These include the Venezuela Energy Week London Showcase on July 30 – with over 300 delegates registered – and the annual Invest in African Energy Forum, held in Paris as the premier event connecting global investors to Africa’s energy transformation.

ECP hosts high level summits and investor conferences in leading energy and minerals producing countries in Africa and South America, including: Venezuela Energy Week; Angola Oil & Gas; MSGBC Oil, Gas & Power; African Mining Week; Libya Energy & Economic Summit; Congo Energy & Investment Forum; South Sudan Oil & Power; and Caribbean Energy Week. The company has hosted investor forums and supported licensing round roadshows in Houston, London and Paris since 2016.

“Opening our UK company brings ECP closer to key investors in the global energy finance capital,” states CEO James Chester. “Having a permanent presence in London further cements our footprint in Europe, enabling us to fulfil our mission to bring minerals and energy investment to diverse global markets.”

With teams located across Africa, Europe and the Americas, ECP has long-facilitated strategic engagement, market intelligence and industry convening, uniting investors with leading energy and mining projects.

Distributed by APO Group on behalf of Energy Capital & Power.

Continue Reading

Trending

Exit mobile version