Equatorial Guinea grants ExxonMobil extension on offshore blocks
Published by Nicholas Woodroof,
Editor
Oilfield Technology,
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 km 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.
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/16122019/equatorial-guinea-grants-exxonmobil-extension-on-offshore-blocks/
You might also like
Union Jack Oil plc sign farm-in agreement with Reach Oil and Gas for the Sark Drilling Project
The agreement is to acquire a 60% working interest (paying 80%) in the Sark well, planned to be drilled early 3Q25, located in Central Oklahoma, US.