Equitorial Guinea

ExxonMobil makes oil discovery in Equatorial Guinea Block EG-06

December 12, 2017 | Equitorial Guinea, Exploration / Discoveries

London, UK | – The Equatorial Guinea Ministry of Mines and Hydrocarbons announced that American multinational oil and gas corporation, ExxonMobil has struck oil with its Avestruz-1 well in Block EG-06. The government of Equatorial Guinea has partnered with ExxonMobil in Block EG-06 through a 20-percent stake held by Equatorial Guinea national oil company GEPetrol. The well was drilled in October 2017. The operator is now assessing potential commerciality. Avestruz-1 is located approximately 160 kilometres offshore Malabo in an exploration area adjacent to ExxonMobil’s Zafiro …

South Sudan, Equatorial Guinea to collaborate on African oil and gas

March 21, 2017 | Equitorial Guinea, Government & Regulations, Sudan & South Sudan

Juba, South Sudan | –  South Sudan and Equatorial Guinea announced an historic partnership today in Juba, setting out the terms for a strong bilateral relationship between the African oil and gas producers. The Memorandum of Cooperation was signed by Equatorial Guinea’s Minister of Mines and Hydrocarbons H.E. Gabriel Mbaga Obiang Lima and South Sudan’s Minister of Petroleum H.E. Ezekiel Lol Gatkuoth. The two nations will use the new partnership as a basis for exchanging information on policy and regulation; promoting upstream, downstream and infrastructure …

China signs $2 billion infrastructure pact with oil-rich Equatorial Guinea

April 29, 2015 | Budget & Investment, Equitorial Guinea

Beijing, China |  – China’s biggest lender by assets, Industrial and Commercial Bank of China, said on Wednesday it had signed an infrastructure pact worth $2 billion with the oil-rich west African nation of Equatorial Guinea. The agreement was signed on Tuesday following a meeting in Beijing between Chinese President Xi Jinping and Equatorial Guinea President Teodor Obiang Nguema, marking the latest Chinese investment in the continent and its resources. The deal will include providing “financial support” to Equatorial Guinea’s government as well as Chinese …