Close to $2.4 billion worth of active oil & gas projects in Equatorial Guinea
With the fastest population growth in Central Africa over the next 10 years, creating prosperity for its booming population is a priority. With close to $2.4 billion in active new oil, gas and chemical plants, these upcoming projects will create much-needed job opportunities.
Like many of the countries in the Gulf of Guinea, Equatorial Guinea is rich in offshore Hydrocarbon deposits in relatively shallow waters. The smallest country by land and population in Central Africa, it has the fastest-growing population in Central Africa at 33.5 percent. From the current 1.4 million people, it will increase to 1.8 million by 2030. With a GDP of $11 billion in 2019, or $8,130 per capita, it is a relative wealthy country when compared to the rest of Central Africa.
ABiQ currently track projects to the value of $2.4 billion in Equatorial Guinea. Historically, project execution has been poor with dismal performances when executing projects against budget and time. However, should these projects proceed as announced, construction will peak in May 2022 with more than $164 million being spent during the month.
For more information on these projects or data, please contact us.