Equatorial Guinea announces 2016 bid round

Equatorial Guinea

CAPETOWN, October 29, 2015 – Equatorial Guinea’s Ministry of Mines, Industry and Energy today announced a new bidding round in 2016 will offer all of its remaining deepwater and ultra-deepwater blocks.

In further comments made at Africa Oil Week in South Africa the ministry said it will not extend ExxonMobil’s Zafiro production sharing contract upon expiration.

Sale of Hess assets to foreign bidders and Noble Energy’s Carla and Diego developments will also not be approved by government.

Minister of Mines, Industry and Energy Gabriel Obiang Lima said, “In a sustained environment of low oil prices, Equatorial Guinea continues to be attractive for deepwater exploration.”

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