EG Round 2026 to attract $2 Billion in investment and boost energy development

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Equatorial Guinea is set to launch EG Round 2026 during the African Energy Week (AEW): Invest in African Energies,taking place from September 29 to October 3 in Cape Town. The licensing round,scheduled for September 29,aims to attract foreign direct investment,maximize the value of offshore resources,and position the country as a competitive African energy hub. The official event will feature the session “Equatorial Guinea’s New Exploration Drive”,led by Antonio Oburu Ondo,Minister of Hydrocarbons and Mining Development. During the session,geological and technical data on offshore basins will be presented,offering investors a clear view of profitability,risks,and strategic opportunities.

In preparation for the round,the Ministry of Hydrocarbons partnered with UK-based Searcher Seismic on a $60 million project to acquire and reprocess 2D and 3D seismic data. This initiative reduces technical risks and increases economic certainty for investors,enabling decisions based on thorough cost-benefit analysis and production potential. Equatorial Guinea’s oil sector is experiencing a resurgence in activity and financial attractiveness. ConocoPhillips strengthened its position in the Alba Unit and Block D after acquiring Marathon Oil,securing long-term access to gas and liquids flows. LNG production from Punta Europa continues to boost export revenues and strengthen the country’s fiscal balance.

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Independent operators such as Trident Energy and Kosmos Energy,along with Panoro Energy and Vaalco Energy,are advancing exploration and development in strategic blocks. Vaalco Energy projects production start in Block P in 2026,reaching peak output by 2028,generating significant revenues and increasing national export capacity. The entry of Chevron,through the acquisition of Noble Energy and signing PSCs in blocks EG-06 and EG-11 worth $2 billion,reflects confidence from major corporations in the country’s economic and fiscal stability. These investments are expected to create jobs,facilitate technology transfer,and strengthen energy infrastructure.

Economically,Equatorial Guinea combines a competitive fiscal framework with high-quality offshore resources. Optimizing existing fields and exploring frontier deepwater areas presents opportunities to increase production,public revenues,and the country’s share in international oil and gas markets. The government has implemented regulatory,fiscal,and labor reforms,including adjustments to the petroleum regime,to ensure global competitiveness and attract strategic investment. These measures aim not only to increase foreign direct investment but also to maximize economic returns per barrel and strengthen sector resilience against market fluctuations.

“EG Round 2026 is an opportunity to drive quality investment,generate sustainable revenues,and position Equatorial Guinea as a key economic hub in Africa’s energy sector,” stated Minister Antonio Oburu Ondo. With technically attractive blocks,competitive fiscal packages,and an industrial development strategy,the round is projected to have a meaningful economic impact,boosting GDP growth and diversifying the national economy. With a revitalized upstream sector,significant investment flows,and favorable economic policies,Equatorial Guinea is poised to consolidate its position as a profitable and attractive destination for energy investment in Africa,generating employment,fiscal revenues,and reinforcing its presence in the global hydrocarbons market.