The Oil & Gas Year Equatorial Guinea 2015
TOGY’s fifth edition on Equatorial Guinea’s energy market focuses on a transitional period of the country’s hydrocarbons sector where the upstream developments continue to be the prime source of development but new downstream projects continue to evolve and are set to change the country’s socioeconomic structure.
The Oil & Gas Year Equatorial Guinea 2015 features interviews from key players in the industry, both from the public and private sector, like Minister of Mines Industry and Energy Gabriel Mbaga Obiang Lima, Director of Hydrocarbons Mercedes Eworo Milam, Regional Vice President for Equatorial Guinea William Wheeler and Country Manager for Noble Energy Thor Pruckl, among many other leaders from companies associated with the whole value-chain of oil and gas in the country.
As Equatorial Guinea opened up its remaining offshore blocks for open bid or direct negotiation, the upstream sector of the country continues to develop with one block granted to ExxonMobil, 5 more to be awarded by the early 2016 and several exploration wells expected to be drilled by 1Q 2016. However, the drop in oil prices has highlighted how crucial the country’s economic diversification strategy has become where the development of projects in downstream, petrochemicals and associated industries to the hydrocarbons sector will be come a pillar for the country’s socioeconomic development.
Hence, The Oil & Gas Year Equatorial Guinea 2015 is devoting its Year Focus chapter to the key diversification projects that are currently underway in the country: the Bioko Oil Terminal, the Integrated Petrochemicals Complex in Riaba, the Mbini Industrial City and the Luba Petroleum Industrial City. The successful conclusion of this projects will redefine Equatorial Guinea’s role in the Gulf of Guinea setting the country as an advanced regional energy centre that can serve the greater region of CEMAC and central and west Africa.