Equatorial Guinea Grants ExxonMobil Extension on Offshore Blocks

Connect with us:

The Ministry of Mines and Hydrocarbons of Equatorial Guinea has granted ExxonMobil a six-month extension for offshore blocks EG06 and EG-11. Located next to legacy oil-producing Block B and EG-11, the licenses are considered highly prospective acreage. ExxonMobil discovered oil at the Block EG-06 Avestruz-1 well in October 2017 and has been assessing its commerciality since.
Avestruz-1 is located approximately 160 kilometers offshore Malabo in an exploration area adjacent to ExxonMobil’s Zafiro field, a prolific legacy oilfield in Equatorial Guinea’s northern maritime area. The company signed its production sharing contract for Block EG-06 in 2015, followed by entry into nearby Block EG-11 in 2017.
“The resource potential on these two blocks is huge and we want to give the operator enough time to ascertain the full commerciality of these reservoirs,” said H.E. Gabriel Mbaga Obiang Lima.
 

Other Reads

Other Reads

Anine Kilian

Anine Kilian

Anine Kilian is the Managing Editor at Energy Capital & Power. She produces our Africa Energy Series reports, co-ordinates our range of Africa Energy Series Publications and is in charge of running and maintaining ECP’s news desk. She has worked as an editor and journalist in the energy industry for over ten years, with a major focus on Africa’s oil & gas and renewables sector.

More from the Author

Sign up for latest news and event info

Copyright © 2022 Energy Capital & Power. Privacy Policy · Terms of Use