The Oil & Gas Year Equatorial Guinea 2014
Equatorial Guinea is at the centre of regional attention. Equatorial Guinea’s Minister of Mines, Industry and Energy Gabriel Obiang Lima is chairperson of the African Petroleum Producers Association. The nation hosted the African Union’s annual meeting in June 2014. And its assertive diplomatic relations, coupled with major infrastructure investments are driving the country’s resurgence
Equatoguinean oil production is in its seventh year of decline. The government is looking for ways to arrest this trend by opening the country’s remaining acreage to bidding. Drilling activity is improving, 25 new wells are expected to be drilled in 2014. In addition to this potential offshore gold rush, Equatorial Guinea will soon welcome Africa’s first floating LNG platform, which will become a permanent fixture in block R. Its operator, London-headquartered Ophir Energy, expects first gas to be produced in 2018. To support the presence of the $3.5-billion floating platform, Ophir plans to drill 10 wells by 2017. Block R is jointly owned by Ophir and GEPetrol.
The Oil & Gas Year Equatorial Guinea 2014 includes interviews with the Minister and the Director of Hydrocarbons at the Minister of Mines, Industry and Energy as well as the leaders of the oil and gas industry and a full report on the influential TOGY industry roundtable event held in Bioko.
This TOGY edition is a vital resource for investors seeking to understand the pressures and opportunities of this prospective and influential market.