Equatorial Guinea

Fisheries

OIL

Equatorial Guinea is the top oil supplier for the CEMAC region and the third largest supplier for all of Africa. Oil production reached 340,450 barrels per day (bpd) in 2011, including 20,450 bpd of liquids. It has declined in recent years due to the maturity of six oilfields (Zafiro, Okoume, Alba, Ceiba, Jade and Serpentina). Proven reserves total 1.2 billion barrels, equivalent to about 10 years of production at current rates. Eight new oil exploration contracts have been signed recently, four onshore (including on Rio Muni mainland), among which three are likely to give rise to their first perforations by the end of 2014. Now, Equatorial Guinea is moving to develop its entire petrochemical value chain and is working with the private sector to create a highly developed and vertically integrated domestic industry.

GAS

Natural gas is developing as a serious alternative to declining oil production, provided the productivity of its exploitation can be improved. The production of methanol, butane, propane, LPG and LNG in particular has increased significantly, from 37,300 equivalent barrels per day (ebpj) in 2006 to 143,200 ebpj in 2009 ebpj. Gas should represent 50% of total hydrocarbons resources by 2016.

In keeping with soaring global demand, the Equatorial Guinean government intends to make the country a regional gas hub. In 2007, Equatorial Guinea built its first liquefied natural gas (LNG) train. After 8 years of development and construction, a second LNG train dedicated entirely to local gas resources will be operational in 2016. The goal is to build a system to collect natural gas from fields currently in operation (Zafiro, Alba and Alen as of 2013) as well as from future fields. This gas will be processed at Equatorial Guinea’s port Punta Europa.

Three major projects are underway: a new LNG plant that will process 3.4 million tons of LNG per year; the AMPCO plant which will produce 1 million tons of methanol per year; and an Alba plant of liquefied petroleum (1300 bpd of propane, 7,000 bpd of butane and 6,000 bpd of condensate).

Minerals 

Gold: 

Gold panning

Panning for gold

The rivers of Rio Muni are worked by local artisans using simple panning and wooden sluice technologies. Previous commercial investigations have concentrated on the three main areas of artisanal workings – Coro, Aconibe, and Mongomo and there are several other known occurrences that have been worked. Historical records are incomplete, but at least 2300 kg (74,000 0z) of gold was produced from the Coro area alone in the mid-70’s.

The alluvial gold is relatively coarse grained, occurring as either dendritic or rounded nuggets, mostly in the 350-180um size range, although larger nuggets up to 4mm x 8 mm are relatively common. The common occurrence of the gold with vein-quartz, clays, and lateritic minerals attests to the proximity and variable types of bedrock gold mineralisation which have yet to be delineated.

Diamonds 
Heavy-mineral sampling results have identified zinc-rich chromites in the Nsork area, similar to those found in the diamondiferous lamproite dyke swarm at Mitzic (Gabon), 50km to the southeast. Remote sensing and limited outcrop mapping show the dyke swarm trending into the southeastern corner of Rio Muni. Furthermore, exploration in Gabon for both gold and diamonds has identified trails of indicator minerals and diamond right up to the southern borders of Rio Muni. Detailed exploration work is required in the Nsork area to establish the primary sources of the diamonds.

Columbo-tantalite 
Mineralisation has been defined in the Aconibe and Ayamiken areas by Nb and Ta soil anomalies and by the presence of heavy minerals commonly associated with Nb-Ta-bearing pegmatites. Neither area has been explored in great detail and thus they represent early stage exploration prospects for pegmatites and skarn systems associated with PanAfrican granitic intrusions. The Aconibe occurrence comprises discrete, laterally extensive pegmatites that are also overlain by eluvial and alluvial deposits yielding grades of 3.0 to 7.5kg/m³. Sample assays have demonstrated niobium-rich columbo-tantalite (62.36% Nb₂0₅) with subordinate tantalum (18.74% Ta₂0₅).

Other mineral potential 
Widespread lateritisation and indications of bauxitic laterite, with grades up to 58.3% Al₂0₃, and 2.1 % to 5.3% SiO₂, indicate some potential for bauxite. Anomalous values of base metals, U, As, Ag, Mn and Mo have been detected in laterite above black shales in the Noya Series which is part of the West Congolian foreland basin. This has known base metal deposits immediately to the south in Gabon, and is also equivalent in age to the Katangan sequences of the Democratic Republic of Congo and Zambia. Basic intrusives have been mapped in southern Rio Muni, that may be a northern extension of the Kinguélé ultrabasics trend of northern Gabon, which contains known Ni-PGE mineralisation. Serpentinised ultramafics in central Rio Muni are as yet untested exploration prospects with some potential for base metals and platinoid elements.

Energy

In order to position itself as a regional center for transport and electricity supply, the country has significantly improved its port and airport facilities to become a hub for regional transport of goods and passengers. The port of Malabo was built to accommodate ships of 16 meters draft and a load capacity of 10,000 containers. It can serve as a stopover for ships from Asia and Europe to West and Central Africa. Such upgrades in infrastructure enable the country to take advantage of it favorable strategic location and access to a market of more than 130 million people.

In the energy sector, capacity was increased by 120 MW with the implementation of three additional turbines to central Punta Europa, on Bioko Island near Malabo, a step that made island energy-sufficient. Sendji, a hydroelectric power plant that will supply an extra 200 MW, is expected to be commissioned by 2015, generating a surplus to export to Cameroon and Gabon.

Tourism