Middle East / Africa

Guinea Bissau flag
Summary | Profile

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
Government: republic
Capital city: Bissau
Legal system: based on French civil law; accepts compulsory ICJ jurisdiction
Currency: Communaute Financiere Africaine franc (XOF); note
Licensing:

Country profile

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


Oil Gas
Production:    
Consumption: 2,480 bbl/day (2005 est.)  
Exports:    
Imports: 2,463 bbl/day (2004)  
Reserves:    
Major fields:



Guinea Bissau - recent news

08 Jan 24
Guinea Bissau: PetroNor completes Guinea Bissau farmout to Apus Energy
PetroNor E&P has completed the Guinea Bissau farm-down transaction which was announced on 27 th June 2023. Apus Energy has initiated the payment of $23 million towards past licence costs and long lead items purchased for drilling.
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.

Guinea Bissau - more news

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