Equatorial Guinea.

The country today

Equatorial Guinea covers 28,000 square kilometres, split between Bioko Island and the mainland Río Muni. It has 1.9 million people and a GDP of roughly $13 billion in 2025. It joined OPEC in 2017. Crude output has fallen to about 46,000 barrels a day, from a peak above 300,000 in 2004. GEPetrol is the oil NOC and Sonagas G.E. the gas NOC.

Energy — oil and gas

Alba gas built the Punta Europa complex on Bioko — LPG, methanol, power and, since 2007, EG LNG. The Gas Mega Hub is extending its life. Alen came on stream in 2021, Alba infill followed in 2025, and Chevron sanctioned the $690 million Aseng tieback in 2026, with first gas expected in 2028. Feed gas rises from about 175 to more than 300 million cubic feet a day. Yoyo-Yolanda, unitised with Cameroon, and Sonagas's EG-27 are the next backfill. On oil, GEPetrol took over Zafiro from ExxonMobil in 2024. A well-reconnection project should add 7,000–11,000 barrels a day, and the state is seeking partners to lift output above 50,000. Trident operates Block G (Ceiba, Okume), which produced about 20,400 barrels a day in 2025. Acreage is now awarded by direct negotiation; fewer than seven blocks remain open.

The blue economy

Equatorial Guinea remains a net fish importer despite rich waters. In June 2026 the government endorsed a fisheries study and moved to negotiate an industrial-fishing joint venture with a fisheries complex and shipyard. The AfDB-backed PASPA programme has opened a cold-chain complex at Bata. Luba Freeport on Bioko is the offshore supply base.

The Norwegian corridor

Oslo-listed Panoro Energy is the largest partner in Block G. It completed the purchase of Kosmos's 40.375 percent stake in June 2026, taking it to 54.625 percent, and it operates exploration blocks EG-01 and EG-23. That gives a Norwegian-listed company real weight in the country's most active brownfield.

What Saga sees

Equatorial Guinea is a brownfield and gas-infrastructure market. Block G already runs workovers, ESP replacements and acid stimulations, and Zafiro needs reconnection and redevelopment. That suits low-capex well stimulation and subsea intervention. The Gas Mega Hub adds subsea tiebacks and the mainland LPG storage the minister has called for. The opportunity window is the next two to three years.

How we work

Saga connects Norwegian and Nordic technology and service providers with operators and national oil and gas companies, working through local partners. We are building our presence in Equatorial Guinea and provide market entry, commercial representation and technical due diligence.

At a glance

• Population: 1.9 million (2025)
• GDP: $13 billion (2025)
• Hydrocarbons: Crude c. 46,000 b/d (2025, OPEC); LNG exporter via EG LNG (Punta Europa); Gas Mega Hub feed gas c. 175 MMcf/d rising above 300 MMcf/d with Aseng
• Principal NOC: GEPetrol · Sonagas G.E.
• Norwegian footprint: Panoro Energy (Oslo-listed; 54.625% of Block G; operator of EG-01, EG-23)
• Saga focus areas: Block G and Zafiro brownfield well stimulation · Gas Mega Hub subsea tiebacks · LPG and gas-hub infrastructure · Industrial fisheries and cold chain