Equatorial Guinea to offer 7 or 8 blocks by month end

Last week, Equatorial Guinean Energy Minister Gabriel Obiang Lima announced that the country will offer 7 or 8 blocks of oil exploration before the end of this month. These perimeters will be added to the 27 blocks launched recently. The goal is to increase the chances of production in the coming years.

The leader said that so far the government has received a total of 21 bids for 13 blocks presented. As a reminder, the very prolific R block is among the blocks of the round. The government intends to eventually resume the project of liquefaction of natural gas Fortuna FLNG.

The country currently produces 120,000 barrels a day. Production limited by lack of investment in the country in recent years. The government is working to put in place incentive policies for investment in the sector.

Next year, a new exploration cycle will be launched in line with the country’s strategic objective of becoming an important gas hub in Central Africa.

 

Source: Agence Ecofin

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