New Regulations for Equa G’s Petroleum Sector

Thursday, September 26, 2013

Equatorial Guinea has added new regulations to its 2006 Hydrocarbons Law. The new regulations were enacted by Order No. 4/2003 by the Ministry of Mines, Industry and Energy.

The 60-page statute deals in detail with a broad range of E&P issues, including the award of production sharing contracts and similar agreements, the export of hydrocarbons and abandonment. Midstream and downstream activities are also covered by the regulations. In addition to operational aspects, the regulations contain provisions on tax, customs, labor, land access, competition, and local content issues.

The regulations were effective September 23 and apply to oil and gas companies, their contractors and subcontractors as well as other industry entities.

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