Antonio Oburu Ondo, Minister of Mines and Hydrocarbons of Equatorial Guinea, will converse on the upcoming Put money into African Vitality (IAE) discussion board in Paris, because the nation seeks renewed international funding to monetize offshore gasoline reserves and set up itself as an LNG export hub.
As a mature producer, Equatorial Guinea is prioritizing near-field, infrastructure-led exploration to yield new discoveries and produce extra assets into manufacturing. Trident Vitality launched a three-well infill drilling marketing campaign on Block G at first of this yr using the Island Innovator rig, with all three wells anticipated to come back onstream by mid-year. The rig will then drill the Akeng deep exploration properly in Kosmos Vitality-operated Block S, focusing on potential assets of 180 million barrels of oil. If profitable, the marketing campaign might result in a major rise in output from the Ceiba Area and Okume Advanced.
IAE 2024 (https://apo-opa.co/49krKXM) is an unique discussion board designed to facilitate funding between African power markets and world traders. Happening Might 14-15, 2024 in Paris, the occasion affords delegates two days of intensive engagement with business consultants, mission builders, traders and policymakers. For extra data, please go to www.Make investments-Africa-Vitality.com. To sponsor or take part as a delegate, please contact gross [email protected].
In the meantime, VAALCO Vitality is main improvement of the Venus Area in Block P offshore Equatorial Guinea, which includes drilling two producer wells and one water injector beneath a single marketing campaign. The Houston-based agency is planning to convey the mission on-line in 2026, in partnership with nationwide oil firm GEPetrol and Atlas Petroleum. Holding pursuits in six blocks – together with producing belongings in Block I – Atlas Petroleum is at the moment searching for farm-in and drilling companions in Blocks EG-02 and H, wherein in depth 3D seismic surveys have instructed vital hydrocarbon-bearing potential.
Attracting new gamers to its exploration scene, the Ministry of Mines and Hydrocarbons signed three manufacturing sharing contracts final yr with Africa Oil Corp. (Block EG-18 and EG-31) and Panoro Vitality (EG-01), and expects to signal one other for the event of Blocks EG-06 and EG-11 within the coming months. In Block 27 – house to the untapped Fortuna gasoline discipline – GEPetrol is searching for $3.1 billion to develop greater than 3.8 trillion cubic ft of gasoline in place. Final December, Europa Oil&Gasoline acquired an curiosity within the extremely potential Block EG-08, which options drill-ready prospects and estimated assets of 1.4 trillion cubic ft of gasoline equal.
The nation can also be getting into the subsequent phases of improvement of its flagship Gasoline Mega Hub (GMH) initiative, which seeks to leverage present infrastructure to create a regional gasoline business. Part two consists of modifying the contractual phrases for the Alba gasoline discipline, whereas part three will facilitate gasoline processing from the offshore Aseng discipline at Punta Europa. Final October, Marathon Oil signed an LNG sale settlement with multinational commodity dealer Glencore for gasoline produced from the Alba discipline. Marathon can also be planning to change its built-in gasoline operations in Equatorial Guinea in 2024, which incorporates rerouting pure gasoline from the AMPCO methanol facility to the EG LNG plant.
“Equatorial Guinea is doubling down on gasoline – a key focus of the worldwide power transition and investor curiosity. The nation is single-handedly driving some of the bold LNG initiatives on the continent – the GMH – which holds the potential to determine an intra-African gasoline commerce and catalyze gas-based industries throughout the area. At IAE 2024, world traders can entry Equatorial Guinea’s newest funding prospects, in addition to interface with the nation’s related oil and gasoline authorities,” says Sandra Jeque, Occasion&Mission Director at Vitality Capital&Energy.
Distributed by APO Group on behalf of Vitality Capital&Energy.
