Continental Focus, International Reach

Equa G Launches Licensing Round at CAPE VII

Sunday, April 7, 2019

Equatorial Guinea launched 26 onshore and offshore blocks during the presentation of its open licensing round at the APPO CAPE VII Congress & Exhibition on March 4. The licensing round covers 24 offshore and two onshore blocks.

Of the blocks on offer, two of the blocks host existing discoveries including Ophir Energy’s former Block R, which encompasses the currently stalled Fortuna FLNG project. The former Ophir block is now on offer as Block EG-27.

The other block with an existing discovery is Block EG-23. This block is located directly northwest of Marathon Oil’s Alba gas-condensate field and adjacent to the maritime boundary with Nigeria, it contains the Estaurolita gas discovery. The block also holds the Tsavarita oil discovery and the non-commercial Sodalita West oil find.

Six blocks – EG-07, 08, 12, 14, 25 and 30 – surrounding Bioko Island are up also on the auction block. Atlas Petroleum previously operated EG-30 (known as Block J) while Starc used to operated EG-25 (formerly Block X), but the companies have been forced to relinquish these assets having done little or no work on them for years. EG-07 holds the Langosta- gas and condensate discovery.

Other deep-water acreage available includes EG-05, 9, 10, 13, 15, 16, 17, and 22. Glencore previously operated EG-22 (then Block V) and EG-05. Blocks EG-03 and EG-04, previously controlled by Elegance Power, are on offer onshore Rio Muni, while shallow water assets EG-19, 26 and 29 (the former Block N) are also being offered to the industry.

The former Corisco Deep block, also known as Block K and now called EG-28, is also available. Four areas around Annobon Island, EA-01, 02, 03 and 04 are also included in the tender.