Middle East / Africa
Country profile: Guinea Bissau
|Location:||Western Africa, bordering the North Atlantic Ocean, between Guinea and Senegal|
|Climate:||tropical; generally hot and humid; monsoonal-type rainy season (June to November) with southwesterly winds; dry season (December to May) with northeasterly harmattan winds|
|Terrain:||mostly low coastal plain rising to savanna in east|
|Size:||36120 sq. km total (Land area: 28000 sq. km Water area: 8120 sq.km)|
|Population:||1,503,182 (July 2008 est.)|
|Languages:||Portuguese (official), Crioulo, African languages|
|Legal system:||based on French civil law; accepts compulsory ICJ jurisdiction|
|Currency:||Communaute Financiere Africaine franc (XOF); note|
Regional leaders created the Economic Community of West African States (ECOWAS) on May 28, 1975 in Lagos, Nigeria. ECOWAS is comprised of 15 countries, which include: Benin, Burkina Faso, Cape Verde, Cote d’Ivoire , The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria , Senegal, Sierra Leone, and Togo. The leaders established ECOWAS to promote regional integration and economic growth in West Africa, as well as to create a monetary union in the region. However, ECOWAS has encountered problems in the process of regional integration including: political instability and lack of good governance that has plagued many member countries, the insufficient diversification of national economies, the absence of reliable infrastructure, and the multiplicity of organizations for regional integration with the same objectives.
Since independence from Portugal in 1974, Guinea-Bissau has experienced considerable political and military upheaval. In 1980, a military coup established authoritarian dictator Joao Bernardo 'Nino' VIEIRA as president. Despite setting a path to a market economy and multiparty system, VIEIRA's regime was characterized by the suppression of political opposition and the purging of political rivals. Several coup attempts through the 1980s and early 1990s failed to unseat him. In 1994 VIEIRA was elected president in the country's first free elections.
A military mutiny and resulting civil war in 1998 eventually led to VIEIRA's ouster in May 1999. In February 2000, a transitional government turned over power to opposition leader Kumba YALA, after he was elected president in transparent polling. In September 2003, after only three years in office, YALA was ousted by the military in a bloodless coup, and businessman Henrique ROSA was sworn in as interim president. In 2005, former President VIEIRA was re-elected president pledging to pursue economic development and national reconciliation.
Energy production and consumption
|Consumption:||2,480 bbl/day (2005 est.)|
|Imports:||2,463 bbl/day (2004)|
Guinea Bissau - recent news
|04 Dec 23
||Guinea Bissau: AGR wins well management contract offshore Guinea Bissau
AGR has secured the well management contract with Apus Energia Guinea-Bissau for a deepwater exploration well in the Sinapa license offshore Guinea-Bissau, with drilling set to commence in summer 2024.
|13 Nov 23
||Diamond Offshore announces new drillship contract
Diamond Offshore Drilling has entered into a drilling contract with an independent operator to utilize the Ocean BlackRhino for work offshore Guinea-Bissau. The Ocean BlackRhino was awarded a one-well contract with a minimum duration of 30 days representing $15.4 million of additional backlog, excluding mobilization.
|29 Jun 23
||Guinea Bissau: PetroNor farms out exploration licences in Guinea-Bissau for up to USD 85 million
PetroNor E&P, has entered has entered into a binding agreement to farm-out 100 per cent of its participating interest in the Sinapa (Block 2) and Esperança (Blocks 4A and 5A) exploration licences offshore Guinea-Bissau to an SPV owned by Apus Energy DMCC, a subsidiary of Petromal.
|18 May 23
||Guinea Bissau and Eni to start collaboration in the areas of exploration, natural climate solutions, agriculture, sustainability, and health
The Government of Republic of Guiné Bissau and Eni signed a Memorandum of Intent (MoI) to explore potential areas of collaboration in the areas of exploration, nature- and technology-based climate solutions, agriculture, sustainability, and health.
|15 Mar 22
||Guinea Bissau: FAR announces Guinea Bissau withdrawal
FAR Limited has commenced steps to withdraw from its interests in the Esperanca Blocks 4A & 5A and Sinapa Block 2 offshore Guinea Bissau. Joint efforts by FAR and operator Petronor to collaboratively farm-down have been unsuccessful.
Guinea Bissau - more news
Other countries in this region
- Central Africa Republic,
- Congo (Brazzaville),
- Congo (Democratic Rep.),
- Cote d'Ivoire,
- Equatorial Guinea,
- Guinea (Republic),
- Sao Tome,
- Saudi Arabia,
- Sierra Leone,
- South Africa,
- South Sudan,
- United Arab Emirates,
- Western Sahara,