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Sunday, November 6, 2016
Equatorial Guinea’s Ministry of Mines and Hydrocarbons announced new dates for its latest licensing round, EG Ronda 2016. The West African country launched the licensing round in early-June, offering up 37 blocks in total, 32 of them offshore which includes Block A-12, newly relinquished by Marathon Oil. Also up for licensing is former Block EG-05, once operated by Glencore plc. This block has been split into four offshore licenses which have never been drilled.
The round was originally scheduled to close on November 30 of this year but that has now been pushed back to April 28, 2017. Companies interested in submitting pre-qualification data now have until January 31, 2017. The Ministry will announce the firms that pre-qualified on February 3, 2017.
The last day to access Equatorial Guinea’s data room on the blocks prior to the licensing round closing is now April 20, 2017 and the successful bidders will be announced on May 15, 2017. The Ministry will send out invitations to begin negotiations at the end of May and the signing of new PSCs is set for September 15, 2017, with ratification of the new PSCs expected by mid-December 2017.
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