Company News 2025
• March 18th, 2025 - Equatorial Guinea to launch major oil and gas licensing round for 2025/2026
Equatorial Guinea has officially launched its open-door licensing process for 2025, setting the stage for a major licensing round at the end of 2025 or early 2026. This move marks a strategic shift toward prioritizing licensing and exploration, with a strong focus on regulatory competitiveness, tax incentives and data transparency.
Equatorial Guinea’s Minister of Mines and Hydrocarbons, Antonio Oburu Ondo, outlined the country’s comprehensive exploration strategy at CERAWeek organized by S&P Global in Houston, aimed at boosting hydrocarbon production, attracting investment, addressing declining output and enhancing competitiveness. Fiscal reforms include reducing corporate tax from 35% to 25%, dividends tax from 25% to 10%, and withholding tax from 6.25% to 3% for residents (or from 15% to 10% for non-residents). The country’s open-door policy enables international oil and gas companies to apply for licenses through a streamlined process involving direct negotiation with the state.
The government’s aggressive promotion policy has already yielded results, with seven new production-sharing contracts awarded in record time. These include blocks EG-31 and EG-18 to Africa Oil Corp, blocks EG-11 and EG-06 to Chevron, blocks EG-23 and EG-01 to Panoro Energy and Block EG-08 to Antler Global. The next licensing round will be underpinned by a new competitive tax law, a strengthened hydrocarbons law and the launch of a multi-client 3D seismic acquisition initiative – all aimed at boosting investor confidence and accelerating exploration.
The new multi-client 3D seismic acquisition and reprocessing of legacy data is set to launch by year-end, ensuring that investors have access to high-quality geological insights. These efforts directly support an intensified focus on drilling, with all the country’s operators having either executed in-field or exploration drilling campaigns in 2024 or planning to do so between 2025 and 2027, according to Minister Oburu Ondo.
