ExxonMobil lands EG contract

Equatorial Guinea

MALABO, June 5, 2017 – ExxonMobil signed on Monday a PSC with Equatorial Guinea for offshore Block EG-11, contingent to the US supermajor’s Zafiro oilfield.

The deal was reached through direct negotiations and the block was not included in the EG Ronda 2016 licensing round, whose results are expected to be announced later on Monday.

Exxon’s latest asset covers 1,390 square kilometres and comes with 2D and 3D seismic data, as well a sprinkling of 4D.

The news came shortly after the signing of an exploratory agreement between the Ministry of Mines and Hydrocarbons and Schlumberger-Golar LNG joint venture OneLNG for a second floating LNG project.

Under the agreement, OneLNG will look into the liquefaction and commercialisation options for gas resources across the Noble Energy-held blocks O and I. OneLNG will allegedly also fund the technical and commercial feasibility study for the project.

According to some reports on Monday, the government of Equatorial Guinea has been refusing to sign off on two Noble Energy developments – the Carla and Diega fields – in the blocks that are to feed the project.

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