African Energy Week: Invest in African Energies takes place September 29 to October 3 in Cape Town
CAPE TOWN, South Africa, May 23, 2025/APO Group/ --
Bienvenido Nguema Envo, CEO of Equatorial Guinea’s national oil company GEPetrol, has been confirmed as a speaker at African Energy Week (AEW): Invest in African Energies 2025, taking place from September 29 to October 3 in Cape Town. His participation comes at a pivotal moment for Equatorial Guinea as the country undertakes bold steps to revitalize its oil and gas industry, attract new investment and strengthen energy security across West Africa.
Under Nguema Envo’s leadership, GEPetrol is executing a robust development strategy that includes new production sharing contracts (PSCs), the relaunch of exploration and drilling activities, and a transformative field redevelopment program. His participation at AEW: Invest in African Energies 2025 is expected to spotlight these initiatives, while sharing insight into the role GEPetrol is playing in shaping the next phase of growth for Equatorial Guinea’s energy sector.
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.
Among the highlights of GEPetrol’s recent activities is the company’s strategic partnership with independent exploration and production company Panoro Energy for Block EG-23, a highly prospective offshore asset north of Bioko Island. Under the PSC, Panoro Energy now holds an 80% participating interest and operatorship of Block EG-23, while GEPetrol holds the remaining 20%. With estimated resources of 104 billion barrels of oil and condensate and 215 billion cubic feet of gas, the block has already yielded multiple discoveries and is a focal point of renewed exploration. The collaboration aligns with Equatorial Guinea’s infrastructure-led approach to boosting upstream development.
In addition, GEPetrol and energy major Chevron signed PSCs last year for Blocks EG-06 and EG-11, both located near the prolific Zafiro field. These deepwater blocks are viewed as central to reversing national production declines and unlocking new discoveries. The agreements come as part of Equatorial Guinea’s broader effort to incentivize exploration in underdeveloped acreage and fast-track resource monetization. GEPetrol recently assumed operatorship of the Zafiro field – Equatorial Guinea’s largest oil asset – following energy major ExxonMobil’s exit. A multi-phase redevelopment plan is underway, with the company targeting increased production and operational optimization. A recent $350 million technical services contract awarded to international service provider Petrofac represents a key milestone in the redevelopment of the field as well as GEPetrol’s transformation into a globally competitive upstream operator.
“Bienvenido Nguema Envo’s participation at AEW: Invest in African Energies 2025 reinforces the strategic repositioning of GEPetrol as a driving force in Equatorial Guinea’s energy resurgence. As the country advances major offshore projects, redevelops legacy fields and positions itself as a regional gas hub, Nguema Envo’s leadership and vision are key to unlocking investment and production growth,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.
With 1.1 billion barrels of proven crude oil reserves and 1.7 trillion cubic feet of natural gas, Equatorial Guinea’s energy potential remains significant. Nguema Envo’s engagement at AEW: Invest in African Energies 2025 will provide a high-level view of GEPetrol’s future-forward strategy, ongoing partnerships and the country’s broader energy transformation.
Distributed by APO Group on behalf of African Energy Chamber.
