Equatorial Guinea has fewer than seven exploration blocks remaining, down from more than 20 a year ago, as direct negotiations attract international investors, Minister of Mines, Hydrocarbons and Energy Antonio Oburu Ondo said.

The minister said the acreage has been taken up mainly by US and European companies, alongside some Asian investors. 

Since May, the government has offered blocks through direct negotiations rather than licensing rounds, a policy that will continue until further notice.

Equatorial Guinea is also seeking investment to expand its Gas Mega Hub, which supplies gas from several fields, including the cross-border Yoyo-Yolanda resource shared with Cameroon, to the EG LNG plant at Punta Europa. 

Oburu Ondo said opportunities include increasing LNG processing capacity and developing additional plants.

The minister identified mainland liquefied petroleum gas (LPG) storage as another priority, noting the country currently relies on a converted vessel for storage.

 The EG-27 discovery also remains open to investors, with discussions continuing with ConocoPhillips on a non-exclusive basis.

Japan is exploring opportunities to diversify its energy supplies, with Yasuhiro Hashimoto, a senior adviser to Japan’s Ministry of Economy, Trade and Industry, highlighting Africa’s growing importance as a supply source. 

He stressed that a stable business environment is essential to deeper investment cooperation.

Meanwhile, the US is pursuing partnerships with African downstream projects, particularly refining, according to Joshua Volz, Special Envoy for Global Energy Integration at the US Department of Energy.

Oburu Ondo said regulatory certainty and legal stability would be critical to sustaining investor confidence and retaining businesses.

The government will continue accepting bilateral offers for the remaining exploration blocks.