RoyalGate to drill in Equatorial Guinea’s block Z

MALABO, September 25, 2015 – US energy company RoyalGate announced plans to drill a new well in Equatorial Guinea’s offshore block Z near Bioko Island.

“We are proud to announce the drilling programme for the Z-1 well,” RoyalGate Energy president Frank Ene said in a statement. “This is the continuation of what we see as a long-term partnership with Equatorial Guinea and we see a lot of development potential for block Z. We are bullish about the prospects of this block and our other assets in Equatorial Guinea.”

Block Z has estimated gas reserves of more than 102 bcm (3.6 tcf). The company plans to spud the Z-1 well in the first quarter of 2016.

RoyalGate is a relatively new venture, having signed its first production-sharing contract, in partnership with China’s upstream Xuan Energy, for Block Y off Equatorial Guinea’s coast in 2013.

Ene had said to TOGY in 2014 that the company planned to “channel funds generated from production into the further development of the remaining prospects in block Z […] while also using the 3D-seismic data to explore for more prospects.”

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