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

26 Apr 21
Guinea Bissau: PetroNor provides an update on its purchase of SPE Guinea Bissau
PetroNor has provided an update on its previously announced purchase of SPE Guinea Bissau AB. PetroNor will assume 78.57% interest as Operator of the Sinapa (Block 2) and Esperanca (Blocks 4A and 5A) licences in Guinea-Bissau, which have been extended for 3 years. Drilling activity is planned in 2021/22.
06 Apr 21
Guinea Bissau: AGC Authority to licence AGC Shallow block, offshore Guinea Bissau
The AGC Authority (Agence de Gestion et de Cooperation entre Le Senegal at La Guinee Bissau) with the support of MGGS and GeoPartners, has announced the start of the promotion of the block containing the oil discoveries at Domes Flore and Gea and the exploration prospect at Dome Iris. All the above salt related features are located in the AGC Shallow block which is now available for licensing.
20 Nov 20
Guinea Bissau: PetroNor adds high potential Guinea Bissau acreage to portfolio
PetroNor has announced the purchase of SPE Guinea Bissau, a wholly owned subsidiary of Svenska Petroleum Exploration, which entitles PetroNor to assume the Operatorship (and interest of 78.57%) of the Sinapa (Block 2) and Esperanca (Blocks 4A and 5A) licences in Guinea Bissau, subject to Government approval.
18 Aug 19
Guinea Bissau: CNOOC acquires 55.55 percent interest in Svenska's acreage offshore Guinea-Bissau
FAR Limited has approved the Request for Transfer of Interest from Svenska Petroleum of a 55.55 percent participating interest in the highly prospective Sinapa and Esperanca petroleum licences offshore Guinea-Bissau, to CNOOC West African Petroleum E&P.
13 Mar 19
Guinea Bissau: Exceed Energy announces first contract offshore Guinea Bissau
Aberdeen-headquartered Exceed, a well management and performance improvement specialist, continues to consolidate its West African presence, by announcing the company’s first contract to be undertaken offshore Guinea Bissau.

Guinea Bissau - more news

Other countries in this region




A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current Deals

Current Upstream Deals: 364

Completed Deals

Completed Upstream Deals: 6093

Company Profiles

Current Company Profiles: 2774

Corporate Activity

Current Corporate Activity articles: 3666

Companies Looking

Current number of articles: 447

Company Sales

Current Company Sales articles:1477

Geostudies

Current Geostudies articles: 794

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

Bayphase
Union Jack Oil 149
Rose & Assocs 149
energy365
Government of South Australia
KL Publishing
SLR Consulting logo
OPC
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com