Thursday, June 8, 2017

Equatorial Guinea Strengthens Energy Industry with New Partnerships at Africa Oil & Power Conference

The Republic of Equatorial Guinea has strengthened its energy industry with severeal new partnerships at the Africa Oil & Power (AOP) 2017 conference.

The Equatorial Guinea Minister of Mines and Hydrocarbons, Gabriel Mbega Obiang Lima, attended the conference and highlighted the attractive investment climate and opportunities in the mines, hydrocarbons, and gas sectors of Equatorial Guinea.

The Minister highlighted the high potential of resources and projects in Equatorial Guinea, such as the Fortuna FLNG project, Floating LNG, and the Bioko Oil Terminal.

The Minister also announced the closing and winners of the EG Ronda 2016 licensing round, which included Ophir Energy, Offshore Equator PLC, Clontarf Energy, Elenilto, Taleveras, Atlas Petroleum and Strategic Fuel Fund, and ExxonMobil.

Equatorial Guinea also announced a new Production Sharing Contract (PSC) with ExxonMobil for exploration and production of the deepwater EG-11 block.

The PSC partnership demonstrates the strong confidence international companies such as ExxonMobil has in Equatorial Guinea in regards to future large discoveries and upstream developments.

Equatorial Guinea recently opened a new headquarters for ExxonMobil in Malabo II.

Equatorial Guinea recently joined the Organization of the Petroleum Exporting Countries (OPEC) and is Sub-Saharan Africa’s third-largest oil and gas producer.

AOP 2017 was held in Cape Town, South Africa.