Equatorial Guinea Announces EG Ronda 2016 Winners at AOP 2017, Signs Agreement with ExxonMobil
The Republic of Equatorial Guinea announced the winners of the EG Ronda 2016 licensing round at the Africa Oil & Power (AOP) 2017 Conference.
The winners include Ophir Energy, Offshore Equator PLC, Clontarf Energy, Elenilto, Taleveras, Atlas Petroleum and Strategic Fuel Fund, and ExxonMobil.
The Equatorial Guinea Minister of Mines and Hydrocarbons, HE Gabriel Mbaga Obiang Lima, announced the seven companies who have advanced to negotiations.
Equatorial Guinea is a main sponsor of the AOP Conference, currently underway in South Africa, for international energy firms and governments to discuss the future of energy investments and policies in Africa.
Equatorial Guinea also announced the signing of a Production Sharing Contract (PSC) with ExxonMobil to further develop operations at the Zafiro oilfield.
The PSC demonstrates the confidence ExxonMobil has in the country in regards to future large discoveries and upstream developments.
The new headquarters for ExxonMobil was recently opened in Equatorial Guinea’s Malabo II.
Equatorial Guinea recently joined the Organization of the Petroleum Exporting Countries (OPEC) and is Sub-Saharan Africa’s third-largest oil and gas producer