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Tuesday, February 28, 2017
Equatorial Guinea’s licensing round has been delayed. According to a statement issued by the Ministry of Mines and Hydrocarbons, the official closing date of the EG Ronda Licensing Round is now April 28.
The Ministry said the delay is due to a ‘wave of new exploration interest’ seen and the government wants to give these companies more time to participate.
“We can see that the industry as a whole is turning the corner and that the appetite for exploration is greater starting 2017 than it was last year,” said Gabriel Mbaga Obiang Lima, the Minister of Mines and Hydrocarbons. “There is more stability and predictability in the market right now, which we can see is increasing investor confidence.”
The government will announce the successful bidders on June 5 at the Africa Oil & Power conference, in Cape Town. The Ministry expects to sign new production sharing contracts on September 15 and ratify those agreements before the end of the year.
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