Equatorial Guinea is getting ready to award new offshore oil licenses ahead of an upcoming bidding round. The plan follows the reprocessing of offshore seismic data completed by data company Searcher.
Searcher reprocessed about 7,400 kilometers of 2D seismic data across several offshore locations. The company used newer technology to reanalyze existing data and improve subsurface imaging and interpretation.
The company will make the updated data available to oil companies before the licensing round begins. The aim is to give potential investors access to more current subsurface information.
This step is commonly taken in the oil industry, as producing countries improve the value of their assets before offering exploration licenses.The next offshore licensing round may include around 25 blocks.
The project comes at a time when Equatorial Guinea’s oil production has been declining in recent years. In January 2026, Ecofin Agency reported that the government is seeking funding to support oil and gas production.
Ecofin also reported that authorities have taken measures to raise capital to sustain production as existing fields mature. Officials say additional investment is needed to develop new projects and extend the lifespan of current producing assets.
source:www.ecofinagency.com
African Energy Council