The upcoming licensing round will promote new acreage. (Image source: Adobe Stock)

Equatorial Guinea is preparing to open doors to investors in home and abroad as it is working on launching a new licensing round this year, with a special focus on upstream

According to the Equatorial Guinea's Minister of Mines and Hydrocarbons, Antonio Oburu Ondo, the Ministry is particularly enthusiastic about the country's offshore acreage, which they are looking to develop in collaboration with Cameroon. These include the Yoyo and Yolanda fields, the Etinde gas field and the Camen and Diega fields, which lies in the maritime borders of these two countries. 

The upcoming licensing round will promote new acreage, including Block H and Block 02, previously operated by Atlas Oranto Petroleum and PanAtlantic Energy (Vanco Energy). 

Last time the country had held a licensing round was in 2019, when 27 blocks were offered. It saw participation from 53 companies, with 17 bids submitted. 

Equatorial Guinea continues to deliver attractive exploration opportunities, with elements of an active petroleum system found in the Upper Albian region of one of the wells from Block S a couple of months back. In Block G, Trident Energy remains ahead of schedule following a production optimisation programme on Okume and Ceiba infill wells, boosting yield by more than 5,000 barrels of oil per day. 

International energy services providers are increasingly operating in the region, with Petrofac being one of the latest examples. GEPetrol signed a US$350mn technical services contract with the company in April last year to develop the Zafiro field in Block B, which is known to be the country's largest. The five-year contract includes support services for onshore bases, a floating production storage and offloading (FPSO) vessel and platform for the operator. It will encompass a holistic asset solution, including operations, maintenance, asset integrity, integrity management, marine services, well engineering, project delivery and supply chain services. 

GEPetrol has a multi-phase development plan with the Zafiro field, with Phase 1 to reconnect selected wells that were previously produced via tiebacks to the Zafiro Producer floating production unit. Phase 2 is supposed to run in parallel, with production and cost optimisation drives, followed by a full-scale redevelopment of the field as part of Phase 3. 

Petrocfac is also providing a master service agreement for Marathon Oil to support key onshore and offshore assets, including five offshore steel jacket facilities in the Alba Field and the Alba Gas Plant onshore. The Alba field is part of Equatorial Guinea's Gas Mega Hub project, in which Chevron is a key player. Processing gas from Alba will mark the second phase of the project, while Phase III will involve gas integration from the Aseng field. 

Chevron's presence in the Equatorial Guinea also includes production sharing contracts (PSCs) in Blocks EG-06 and EG-11, which are an extension of its existing interests in the Alen, Aseng and Yolanda fields.

Vaalco Energy, on the other hand, is focusing on exploration and production from Block P, working on a plan of development following the finalisation of a PSC for the asset in August.

2025 brings an exciting programme of exploration activities for Impact. (Image source: Impact Oil & Gas)

Impact Oil & Gas Limited has completed drilling and DST operations at the Tamboti-1X exploration well and spudding of the Marula-1X exploration in Block 2913B (PEL 56), offshore Namibia 

Tamboti-1X was safely and successfully drilled to a total depth of 6450mMD on Block 2913B, approximately 12km northeast of the Mangetti-1X well and approximately 25km north-northwest of the Venus-2A well, using the Deepsea Mira semi-submersible drilling rig.

• Black oil was encountered within 85m of net reservoir of lower-quality Upper Cretaceous sandstones, belonging to the Mangetti fan system.

• A DST programme has now been concluded at the Tamboti-1X location, and results from the acquired log, core and DST data are currently under analysis.

The Deepsea Mira spud the Marula-1X exploration well within the southern part of Block 2913B. This well will target Albian-aged sandstones, within the Marula fan complex and has the potential to unlock further exploration targets across the south, which is an area lying at the heart of the prolific Kudu source-rock kitchen. At the end of 2025, the Deepsea Mira is expected to drill the Olympe prospect, targeting Albian sands within a structural closure on Block 2912.

The Joint Venture is continuing to progress the proposed development of the Venus Field, with development studies ongoing. Since the 2022 Venus-1X discovery well, three further wells have successfully penetrated the Venus Field, and four drill stem tests have been successfully carried out. The Venus Field is expected to be the first development in Block 2913B, producing 150kb/d of ~45° API oil, with the final investment decision expected by the first half of 2026

Siraj Ahmed, Chief Executive Officer of Impact commented, “2025 has commenced with an exciting programme of activities on Blocks 2912 and 2913B, with exploration continuing to prove up resources, whilst the Joint Venture rapidly advances towards the first development – the Venus Field – in our Namibia portfolio.

“With further analysis of the Tamboti-1X results underway, the outcome of this well, within the northern region of Block 2913B, highlights the potential of Namibia’s deep offshore play.

“In the South, the joint venture has spud the Marula-1X well, our first well in the Marula fan complex, an area lying at the heart of the prolific Kudu source rock kitchen, which we hope will unlock further exploration targets.”

Block 2913B offshore Namibia

Petroleum Exploration Licence 56, Block 2913B, is located offshore southern Namibia and covers approximately 8,215km² in water depths up to 3,000m. Impact entered the licence as an Operator in 2014, and in 2017, Impact and NAMCOR were joined by TotalEnergies, bringing with it significant deep-water drilling expertise to the Joint Venture. In 2019 QatarEnergy joined the Joint Venture.

PEL 56 contains the Venus light oil field, discovered by the Venus-1X well drilled in 2022. The field has been appraised with the testing of the Venus-1X side-track well; Venus-1A; Venus-2A; and Mangetti-1X wells.

Impact (through its wholly owned subsidiary, Impact Oil and Gas Namibia (Pty) Ltd) holds a 9.5% interest in Block 2913B (PEL 56). PEL 56 is operated by TotalEnergies EP Namibia B.V, who holds a 50.5% interest; QatarEnergy holds a 30.0% interest and NAMCOR, the Namibian state oil company, holds a 10.0% interest.

Block 2912 offshore Namibia

Petroleum Exploration Licence 91, Block 2912, is located offshore southern Namibia, adjacent to, but outboard of, PEL 56 and covers approximately 7,884km² in water depths between 3,000 and 3,900m. Impact joined TotalEnergies and NAMCOR on the licence in 2019, as did QatarEnergy.

Impact Oil and Gas Namibia (Pty) Ltd) holds a 9.5% interest in this Block. PEL 91 is operated by TotalEnergies EP Namibia B.V, who holds a 47.2% interest, QatarEnergy holds a 28.3% interest and NAMCOR holds a 15.0% interest.

The Naingopo well has reached a total depth of 4,184 metres. (Image source: Adobe Stock)

Reconnaissance Energy Africa Ltd has announced the results of the Naingopo exploration well within the Damara Fold Belt on Petroleum Exploration Licence 073 (PEL 73) onshore Namibia

Brian Reinsborough, president and CEO of the company, said, "We are excited about the results of this well, which opens the play and demonstrates a working petroleum system within the Damara Fold Belt. The importance of finding over 50 metres of net reservoir with indications of oil in this well is significant. The primary objective in the Otavi above the main fault was not penetrated due to seismic uncertainties, however, the Otavi was penetrated at predicted depth below the main fault, which contained evidence of oil. Further drilling is planned to delineate the full extent of the Damara Fold Belt play. Multiple indications of oil were encountered in the Naingopo well and we plan to continue to analyse all fluid and rock samples, which may take several months. Based on our technical learnings from the Naingopo well results, we have further derisked Prospect I and plan to drill this prospect ahead of Kambundu."

Chris Sembritzky, senior vice president of exploration of the company said, "I want to thank and congratulate our technical team for their technical rigor and efforts, which contributed to this success. Finding the presence of oil in the Otavi, as well as reservoir at these depths is critical for the opening of the Damara Fold Belt play. The Naingopo well was invaluable for unlocking our understanding of the play, as well as for further derisking the petroleum system elements and specific prospects. We may return to Naingopo for further appraisal drilling to fully test the extent of the structure. With the acquisition and processing of the Vertical Seismic Profile ("VSP"), we feel confident that any uncertainty with structure has been eliminated with respect to Prospect I. We are excited to move to our next prospect as we seek to unlock the significant resource potential of the Damara Fold Belt."

The Naingopo well has reached a total depth of 4,184 metres. It proved the occurrence of both the Mulden and Otavi stratigraphy. The well encountered 52 metres of net reservoir in the Otavi Group, with the Mulden reservoirs being tighter than expected. The Naingopo VSP has allowed us to correlate the well results to the Otavi seismic event, derisking the Otavi presence in future Damara Fold Belt prospects. Additionally, the indication of oil via rock fluorescence was pervasive within the Otavi Group. This interval of fluorescence was associated with oil being recovered at surface in the drilling mud system.

Side wall cores, isotubes, cuttings and fluid samples are currently with third party service providers for analysis. Additionally, the VSP processing is being finalized, along with the structural and stratigraphic interpretations from the formation image logs.

In addition to the plan to move next to Prospect I in the Damara Fold Belt, we are advancing permitting for our planned 3D seismic acquisition program, which is expected to include both Rift Basin and Damara Fold Belt locations and will be conducted by vibroseis. We expect to commence 3D seismic acquisition in the second half of 2025.

ReconAfrica holds a 70% working interest in PEL 73 and is operator of the concession. Partners are BW Energy Limited with a 20% working interest and NAMCOR with a 10% working interest.

The partners will explore the Damara Fold Belt and Rift Basin plays. (Image source: Adobe Stock)

Reconnaissance Energy Africa has completed a farm down agreement with BW Energy Limited

The sale of a 20% working interest in Petroleum Exploration Licence 73 (PEL 73), in northeast Namibia , has been approved by the Namibian Ministry of Mines and Energy and Namcor Exploration and Production (Pty) Ltd.

The working interests in PEL 73 now comprise ReconAfrica as operator with 70% interest; BW Energy with 20% interest, and NAMCOR with a 10% interest.

Brian Reinsborough , President and CEO commented, "We are pleased to have received all the necessary approvals for the completion of our strategic farm down agreement with BW Energy on PEL 73. We look forward to working with BW Energy as we continue to explore the Damara Fold Belt and Rift Basin plays.

"The results of the Naingopo exploration well will be released shortly following third party analysis of our extensive evaluation program, which was undertaken after the completion of drilling operations on the well. Results have been delayed due to transportation of side wall cores and fluid samples over the holiday period. All samples have now arrived with our third parties and are being analysed."

Carl K. Arnet , CEO, BW Energy commented, "The transaction will enable BW Energy to expand its footprint in a strategically important energy region and further our position as a leader in Namibia's journey towards energy independence. The data and insights gained through ReconAfrica's exploration campaign will further our understanding of the geology and petroleum system in Namibia ."