Equatorial Guinea revitalizes oil and gas sector with relaunched open door policy during CERAWeek

In a significant move to bolster its oil and gas sector, the Ministry of Hydrocarbons and Mines of Equatorial Guinea has officially relaunched its Open Door Policy. This initiative was unveiled at a recent bilateral chamber board meeting during CERAWeek, where H.E Antonio Oburu Ondo led discussions aimed at fostering stronger partnerships with US companies operating in the region and attracting new investors.

H.E Antonio Oburu Ondo delivered a comprehensive presentation on the current state of the industry, highlighting key developments and future opportunities. A central theme of his address was the importance of creating a business-enabling environment through streamlined regulations. Emphasizing the resilience of companies operating within Equatorial Guinea, H.E Antonio Oburu Ondo underscored the nation’s commitment to facilitating growth and stability.

The relaunch of the Open Door Policy in 2024 signifies a renewed focus on direct application and negotiation processes with the state. This approach has already yielded tangible results, with seven new contracts being signed, demonstrating the renewed confidence and interest in Equatorial Guinea’s oil and gas potential.

A key aspect of this revitalized strategy is the emphasis on data. Having successfully established a robust fiscal regime, the Ministry is now prioritizing data-driven decision-making. This commitment to data will ensure transparency, efficiency, and informed strategic planning, further enhancing the attractiveness of Equatorial Guinea’s oil and gas sector to international investors.

CABEF was present at this pivotal meeting and applauds this initiative, recognizing its potential to inject new dynamism into Equatorial Guinea’s oil and gas landscape. As a strategically important country in the sub-region, it is crucial for CABEF to support the presentation of opportunities within the Central Africa region. CABEF believes this renewed focus will propel new growth and further solidify Equatorial Guinea’s role as a key player in the regional energy sector.