Equatorial Guinea wants to restore the Zafiro oil field to the centre of its production strategy. The government seeks partners for a redevelopment campaign that could first lift the field above 30,000 barrels per day and then exceed 50,000 barrels per day in a broader phase. This ambition rests on reconnecting wells, work planned from 2027 and an assessment of existing facilities' capacity.
Reactivating wells before expanding the project
Minister of State for Hydrocarbons, Mines and Electricity Antonio Oburu Ondo presented this approach at African Energy Week 2026 in Cape Town. The first step involves reconnecting wells no longer contributing to production. This operation could add between 7,000 and 11,000 barrels per day. Well interventions, or workovers, are also planned for 2027.
The sequence matters: the government intends to carry out this work before committing to a larger redevelopment. The initial aim is to verify recoverable potential, well condition and equipment capacity to handle additional volumes. If results are positive, the programme could require new drilling and larger facility investments.
This phased progression can limit risks by drawing on updated production data. It also allows comparison of the cost of bringing existing wells back online with new drilling campaigns. However, reconnecting wells does not automatically guarantee stable output: performance depends on equipment integrity, reservoir pressure, water management and production system reliability.
A mature asset that needs to attract capital
Zafiro is a mature asset, making the search for partners essential. Operators must assess a risk profile different from a new discovery: the resource has been produced for years, facilities have aged and maintenance costs may rise. In return, some infrastructure already exists and may allow volumes to return to market faster than a complete new offshore project.
State-owned GEPetrol signed a redevelopment agreement involving Baker Hughes and Hunt Oil in November 2025 to improve recovery and extend field life. The new programme presented by authorities forms part of this effort to keep assets operating and mobilise specialist expertise. Terms for the participation sought will need to specify who finances operations, who assumes technical risks and how additional revenues are shared.
Investors will also assess the contractual environment. The minister highlighted reconnaissance licences allowing companies to examine geological data before committing to drilling. The country says it is ready to adapt contractual terms to risk profiles, particularly for gas projects or marginal and technically complex fields. This flexibility can facilitate investment if accompanied by transparent, predictable rules.
Production within a broader strategy
Zafiro's revival comes as Equatorial Guinea seeks to preserve oil revenues and slow field decline. Revitalising existing assets can provide a bridge while the country prepares new exploration opportunities. It can also maintain the local skills and services required by an industry heavily dependent on offshore activity.
Authorities are simultaneously working to derive more value from gas. The Gas Mega Hub project aims to mobilise additional resources to supply the EG LNG liquefaction facility. Options under study range from improving plant efficiency to potentially adding a second liquefaction train. Sufficient volumes and supplier coordination will be decisive for any expansion.
This strategy rests on two complementary realities. Oil can continue generating volumes and revenues in the short term if fields are maintained and redeveloped. Gas offers prospects for LNG sales and regional integration, but infrastructure projects require capital and reliable supply contracts. Managing these assets simultaneously can strengthen the sector, but requires prioritising investments.
Conditions for credible redevelopment
The target of more than 50,000 barrels per day represents an ambition; initial indicators will be more modest and tangible. The market will monitor wells reconnected, additional production actually achieved, workovers completed in 2027 and decisions on equipment and new drilling. Publishing these stages will distinguish a long-term objective from an already financed programme.
National benefits will also depend on how contracts organise local content, employment and maintenance. Training programmes and supplier commitments can broaden benefits, provided local companies have the certifications, equipment and time needed to respond to tenders. Transparency in production data and contractual commitments will contribute to partner confidence.
For Zafiro, the priority is therefore to demonstrate that a mature field can regain an economically viable trajectory. The first phase must produce results tangible enough to convince investors to support the more ambitious programme. If work reduces unit costs and extends operations without sacrificing safety or reliability, Equatorial Guinea could preserve the value of its offshore portfolio for longer.