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Tuesday, June 28, 2016
CNOOC is under pressure from the government of Equatorial Guinea to move forward on exploiting its discovery made on Block S, the G-13 discovery. The discovery was made 13 years ago and the government said they have been given more than ample time to figure something out.
The country’s Minister for Mines, Industry & Energy and Upstream Gabriel Mbaga Obiang Lima told Upstream that his Ministry has already given CNOOC ample time to come up with a development solution, but if one is not presented at the next technical committee meeting in Q3 “they will have to return the block… and look for somebody who can develop it.”
Hess previously held the block and said the key issues for the discovery were the reservoir’s quality and productivity. CNOOC acquired Block S from Hess in 2006.
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