Equatorial Guinea is poised to award a multi-billion cfa franc contract, exceeding 20 billion,to top-tier oil services companies,aiming to enhance production capacities at the Zafiro oil field . Mirroring the April deal between the Equatorial Guinean government and London-based Pretrofac for similar services. The oil sector in Equatorial Guinea is going through a complex transition period due to high price and production volatility.The secession of the Zafiro field by ExxonMobil, which accounted for 70% of the national production has led to a significant drop in production from 40,000 -100,000 barrels per day to just 22000 barrels per day . As a result the government is actively seeking to address the situation and optimize the exploitation of this oil field. Equatorial Guinea, heavily reliant on oil revenues has experienced a significant decline in oil production since 2010.In response the government and Gepetrol have launched initiatives to restore the sector. The national oil and gas company Gepetrol has developed a multi-phase development plan to expand production at the Zafiro field in the offshore Block B estimated to hold 2.5 billion barrels of crude oil and 3.3 billion cubic feet of natural gas .In recent years Gepetrol has entered into several new production sharing agreements with international oil companies to develop new discoveries and increase the lifespan of existing fields.

Christelle koambi