GEPetrol Joins African Energy Week (AEW) 2025 as Bronze Partner – Advancing Zafiro Redevelopment, Strategic Partnerships

 

Equatorial Guinea’s national oil company, GEPetrol, has joined African Energy Week (AEW): Invest in African Energies 2025 as a Bronze Partner. Taking place from September 29 to October 3 in Cape Town, the event will highlight GEPetrol’s commitment to revitalizing legacy assets, advancing upstream development and forging strategic collaborations to strengthen national production and energy security.

Under the leadership of CEO Bienvenido Nguema Envo, GEPetrol recently assumed operatorship of Block B, home to the country’s flagship Zafiro field. The company has launched a multi-phase redevelopment plan to increase production, optimize operations and ensure the field’s long-term growth.

Phase one, initiated in early 2025, involves reconnecting selected wells previously tied to the Zafiro Producer floating production unit. Phase two targets cost optimization and enhanced well exploitation, while phase three will deliver a full redevelopment of the field. Supporting these efforts, GEPetrol signed a $350 million technical services contract with Petrofac, covering onshore support, FPSO operations and platform services.

Beyond Zafiro, GEPetrol is expanding its upstream portfolio through new partnerships. In Block EG-23, the company holds a 20% interest alongside operator Panoro Energy (80%). Located north of Bioko Island, the block has yielded multiple hydrocarbon discoveries, with contingent resources estimated at 104 million barrels of oil and condensate and 215 billion cubic feet of gas. Under the current production sharing contract, subsurface studies are underway, with exploration drilling anticipated in future phases.

GEPetrol has also partnered with Chevron on deepwater Blocks EG-06 and EG-11 near Zafiro. These assets form part of Equatorial Guinea’s infrastructure-led strategy to reverse production declines and open new exploration frontiers.

With 1.1 billion barrels of proven oil reserves and 1.7 trillion cubic feet of natural gas, Equatorial Guinea is positioned as a key regional supplier and investment destination. GEPetrol’s transition from state representative to competitive upstream operator reflects a broader national strategy to attract investment, redevelop mature fields and drive long-term growth.

“Equatorial Guinea’s proven reserves, ongoing field redevelopment and new exploration partnerships position the country to emerge as a leading oil and gas player in the region. GEPetrol’s transformation into a competitive upstream operator is opening new investment opportunities and accelerating projects that will bolster energy security and economic growth,” stated Tomás Gerbasio, VP of Commercial and Strategic Engagement, African Energy Chamber.

Distributed by APO Group on behalf of African Energy Chamber.

About African Energy Week:
AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.