Guinea-Bissau's hydrocarbon potential under review

Guinea-Bissau has not officially confirmed any commercial discovery of oil or gas, even though it is situated in the MSGBC sedimentary basin, a region known for potential hydrocarbon deposits. Despite this, several companies have shown interest in the country's offshore areas since 2024.

TGS partners with PetroGuin for seismic data

TGS, a Norwegian geoscientific data provider, signed an agreement with PetroGuin, Guinea-Bissau’s state-owned oil company, on October 15. This agreement involves reprocessing over 11,000 km² of seismic data collected in 2018 from the country’s offshore regions.

Reprocessing aims to improve seabed imaging

The reprocessing of the JAAN 3D seismic data set is expected to begin in the fourth quarter of 2026, with results projected by the end of 2027. This process will generate more accurate images of the seabed, helping oil companies evaluate the potential of their offshore blocks.

First deepwater drilling in years

Apus Energy drilled the Atum-1X well in September 2024, marking the first deepwater drilling in Guinea-Bissau in nearly twenty years. The company has not released the results of this drilling and is currently seeking a partner to fund a possible evaluation campaign in 2027.

Chevron secures deepwater blocks

Chevron signed production sharing contracts for two deepwater blocks, Carapau and Peixe Espada, in November 2025. PetroGuin holds a 10 percent interest in each of these blocks, indicating continued government involvement in the country’s offshore oil exploration.

Tender Oil & Gas expands cooperation

Tender Oil & Gas formed a joint venture with PetroGuin in April to explore two additional blocks. This partnership includes plans for new seismic data acquisition, further expanding the scope of exploration activities in the region.

TGS expands its African exploration data contracts

TGS is increasing its presence in Africa, with Guinea-Bissau now part of a broader network of exploration data agreements. The company signed a letter of intent with Libya’s National Oil Corporation in January and has previously worked in Tanzania and Benin on seismic data projects.

Partnership highlights technical advancements

David Hajovsky, TGS’s executive vice president, described the reprocessing of Guinea-Bissau’s seabed data as a "qualitative leap" in imaging technology. The project will be conducted with GeoPartners, a firm involved in the initial seismic survey in 2018.

Data will be shared with multiple companies

The reprocessed seismic data will be made available on a multiclient basis, allowing several oil companies to access the results. The transaction amount was not disclosed, but the agreement continues a partnership that began in 2018 with the JAAN 3D campaign.