Equatorial Guinea Seeks Partners to Lift Zafiro Output Above 50,000 BPD

Equatorial Guinea is seeking partners to redevelop the mature Zafiro oil field, targeting production above 30,000 barrels per day (bpd) in an initial phase and potentially more than 50,000 bpd through a broader redevelopment, Antonio Oburu Ondo, the country’s Minister of State for Hydrocarbons, Mines and Electricity, said at African Energy Week 2026 in Cape Town.

The first phase includes a planned well-reconnection project expected to add between 7,000 and 11,000 bpd, alongside workovers scheduled for 2027. The government is seeking partners to advance the larger redevelopment, which could require new wells and an assessment of whether existing facilities can handle additional production.

“There is potential and we are taking steps right now to start working on those,” Oburu Ondo said. “In order to seek the higher value, we need to first execute the reconnection of the wells project.”

The Zafiro initiative forms part of a wider effort to sustain production from mature assets and attract fresh investment. In November 2025, state-owned GEPetrol signed a redevelopment agreement involving Baker Hughes and Hunt Oil to improve recovery and extend the field’s operating life.

Oburu Ondo also highlighted changes to the country’s hydrocarbons framework, including reconnaissance licenses that allow companies to assess geological data before committing to drilling. The government is also offering greater flexibility in contractual arrangements, including terms tailored to gas projects and marginal or technically challenging fields.

“The most important thing when we talk about fiscal incentives is flexibility,” he said, explaining that contract structures can be adapted to investors’ risk profiles and available geological information.

The government is also assessing additional gas resources to supply the EG LNG processing facility under its Gas Mega Hub strategy, with potential expansion options ranging from debottlenecking to a second processing train.