RoyalGate Energy has extended its licence for Block Z offshore Equatorial Guinea for an unspecified period of time, the independent announced on Monday.
RoyalGate…
READ MOREOil reserves1.1 billion barrels
Oil production161,000 bpd
Gas reserves42.5 bcm
Gas production4.57 bcm
Equatorial Guinea’s oil and gas industry rose dramatically in importance after large discoveries were first made in 1996. Since then, development of its hydrocarbons resources has accelerated and now makes up around 60% of the country’s GDP. Despite a land area of just 28,000 square kilometres, the nation holds some of the largest oil and gas reserves on the continent, which drove it to become a member of OPEC in 2017. E&P activities are overseen by the Ministry of Mines and Hydrocarbons, which hands out PSCs and regulates activities.
The majority of the country’s oil and gas production and export come from the offshore Zafiro field on Block B, operated by ExxonMobil. on the Gulf of Guinea, close to the country’s border with Nigeria. The development is supported by several FPSOs that have been juggled on the block since it began production in 1996. Further exploration activities are required to balance the nation’s falling reserves.
Equatorial Guinea is seeking foreign investment to make the nation a trade hub for gas in the region, including with Cameroon and Nigeria. The Gas Mega Hub initiative set down by the government looks to develop and expand onshore processing infrastructure, with additional hubs throughout the region to offtake gas from stranded reserves on the country’s borders. Although the country of 1.4 billion has continued to make efforts to diversify its economy beyond hydrocarbons-based revenues, commercialisation and fiscal challenges remain its key hurdles.
Panoro Energy has secured the Noble Venturer drillship for a campaign in Equatorial Guinea's offshore Block G.
READ MOREPetrofac has been awarded a contract valued at around USD 350 million by Equatorial Guinea's NOC, GEPetrol.
READ MOREPanoro Energy has reached an agreement with the government of Equatorial Guinea for the award of offshore Block EG-23.
READ MOREVaalco Energy has received final approval from the government of Equatorial Guinea to develop offshore Block P.
READ MOREAngola is modernising its logistics network in a move to diversify its economy and capitalise on its geographical location.
READ MORETiago Ferreira of TLC Angola talks about the company’s evolving operations in Angola’s energy sector.
READ MORERoyalGate Energy has extended its licence for Block Z offshore Equatorial Guinea for an unspecified period of time, the independent announced on Monday.
RoyalGate…
READ MOREThe Ministry of Mines and Hydrocarbons of Equatorial Guinea has decided not to extend Ophir Energy’s licence for Block R after it expired days ago, the company…
READ MOREDiekola Onaolapo, the managing director of Eczellon Capital, talks to TOGY about alternative finance methods being implemented in Nigeria’s oil and gas industry.…
READ MOREVaalco Energy is in talks with the Equatoguinean government to resume work in offshore Block P next year, the US-based independent announced late on Wednesday.
The…
READ MORETOGY talks to Mohamed Haji, the CEO of Rotan Power, about the need for power in the Ghanaian market, the legal framework in the country and its natural gas network.…
READ MORENabil Beers, managing director of Akon Logistics Management, talks to TOGY about challenges and opportunities in Equatorial Guinea’s logistics sector, how the…
READ MORENicolás Nguema Bibang Nzang, general director of Sociedad de Electricidad de Guinea Ecuatorial (SEGESA), talks to TOGY about how the company’s new developments will…
READ MOREThe Equatoguinean government could ask service contracts to be cancelled at the end of the month and ban companies not in compliance with local content requirements,…
READ MOREPablo Beka Esono, country representative at Somagec GE, talks to TOGY about how the company was able to weather the economic downturn through diversification,…
READ MOREEquatorial Guinea will open a licensing round for onshore and ultra-deepwater E&P blocks in January 2019, international media reported on Thursday.
The government…
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