Guinea upstream summary Report

Country Report 17 March 2025

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Report summary

Offshore Guinea sits on a passive margin in the eastern Atlantic, spanning the Liberia and Senegal-Bove Basins. Its geology is similar to Senegal and Mauritania in the north and Sierra Leone to the south, where hydrocarbon discoveries suggest Guinea may also hold potential for oil and gas. However, only three offshore wells have been drilled so far, all of which were dry. In 2017, Hyperdynamics drilled the last exploration well, Fatala-1. Targeting a Cretaceous turbidite, the well was ...

Executive summary
Key facts
Location maps
Key companies
Geology
- Geology Introduction
- Basin Evolution
  - Geological Setting
  - Petroleum System
Exploration
- Licensing
- Drilling
  - Drilling activity
Reserves and resources
Production
- Oil/liquids
Infrastructure
- Introduction
Policy and regulation
- Key legislation
- Regulatory body
- State oil company
- State participation
- Licensing
  - Contract Duration
Fiscal terms
- Overview
  - Upstream
  - Mid/Downstream
- Current fiscal terms
- Production Sharing Contracts - 2015 Petroleum Code
  - State Equity Participation
  - Bonuses, Rentals and Fees
  - Indirect Taxes
  - Royalty and Other Production Taxes
  - Domestic Market Obligation (DMO)
  - Cost Recovery
  - Production / Profit Sharing