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Wednesday, June 7, 2017
Winners of Equatorial Guinea’s licensing round, EG Ronda, were announced at the Africa Oil & Power conference that is taking place in Cape Town. Gabriel Lima, Minister of Mines and Hydrocarbons for Equatorial Guinea, announced the winners on June 5, one year after the round was officially launched.
Out of a total of 23 companies expressing interest in the licensing round since the EG Ronda opened, 12 companies submitted official bids for the acreage on offer. Of those, just seven companies have advanced to negotiations, which are set to begin June 19.
“Some of the companies are majors, some are minors, but the important thing is that they are companies dedicated and willing to do exploration and that is the thing that needs to be done,” said Lima at the conference.
Ophir Energy was the winning bidder for Block EG-24, Offshore Equator plc gained access to Block EG-23, Clontarf Energy was awarded Block EG-18, Elenilto won EG-09, Taleveras was awarded EG-07, and Atlas Petroleum and Strategic Fuel Fund gained access to EG-10.
Lima also said that the government had signed a new PSA with ExxonMobil for Block EG-11, which is contiguous to their Zafiro oilfield.
The closing of the licensing round was extended to April 28, due to heightened interest from investors. Production sharing contracts should be signed by September 15 and ratified before the end of the year. The round included 17 blocks, both offshore and onshore, and included unexplored acreage.
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