Equatorial Guinea requests to join OPEC.“

Written by: Ayman Ragab

Equatorial Guinea has applied to join the Organization of the Petroleum Exporting Countries (OPEC), Reuters reported on Sunday.

Guinea said tropical Earlier, it sought to join OPEC as one of the independent producers that agreed with OPEC members to cut production in the first half of 2016, in an effort to boost crude oil prices.

Ranked 48th globally in oil production

Equatorial Guinea ranks 48th globally in oil production, with 95,563 barrels per day (as of 2024).

Guinea produces approximately 3.17% annually from its proven reserves (2025), and in 2018, it exported 100% of its oil production.

The oil industry in Equatorial Guinea experienced a golden age from the mid- nineties The 20th century up to 2005, starting with the discovery of the Zafiro oil field.

The field began production in record time in 1996, and several discoveries followed.

The dilemma of the scarcity of discoveries

However, the rapid rise in production and a short-lived peak in 2005 of 380,000 barrels per day were followed by a significant decline. In 2022, oil production shrank to levels last seen in 2000, roughly a third of its peak, according to the journal “African Readings”.

There are no signs that the decline will be reversed under the current circumstances.

The main reason for this decline can be attributed to the scarcity of discoveries: the last discovery was made in 2007, in the Asing field.