EQUATORIAL GUINEA

(in West Africa)

CAPITAL: MALABO

POPULATION: 0.7 mm

AREA (on): 28,100 km2

OIL PEAK: 2015 (forecast)

SUPPLY

Oil production in Equatorial Guinea began in 1993 and has risen rapidly. This is partly due to oil, gas and condensate fields developed north of Bioko Island in shallow waters and partly due to a series of finds, south of Bioko in the Rio Muni basin in deepwaters. The latter commenced production in 2000 with the Ceiba field.

Further new developments in both shallow and deep waters are forecast for coming years in both regions, sustaining total production at a plateau for some time.

Gas production was minimal with most flared or re-injected before 2002 but processing of Alba gas into methanol, a new gas-powered electricity generating facility and an LNG plant starting operations in 2007 led to gas output increasing rapidly.

 

DEMAND

Oil consumption has increased significantly since 1998 as new indigenous oil has come onstream and the economy has expanded due to surging export revenue.

Parts of the country’s small population are becoming increasingly affluent however continued consumption growth will likely be more modest.

Gas consumption has already increased rapidly as Equatorial Guinea looks for new markets for its gas, particularly in electricity generation. Exports have begun primarily directed towards the USA.

 

 
 

This is a simple forecast - detailed forecasts including offshore and onshore, deep water splits, sedimentary basins and major fields and drilling etc. can be purchased for most countries.

 

An onshore and offshore oil and gas production, consumption and drilling activity forecast report on this country can be commissioned,

including all relevant charts. Contact us for price and contents list.

 

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