Equatorial Guinea prepares for new era for oil
‘Drill or drop’ policy will soon result in a new set of license holders that the government hopes will kick-start the West African country’s oil industry
Equatorial Guinea will next month announce the winning bids for 27 oil and gas licences that Opec’s smallest member hopes can help arrest declining production and boost dwindling reserves and export revenues. Bids closed on September 27 for the 27 blocks—25 for exploration and two for appraisal and development—and the winners will be announced on November 27 following roadshows in Cape Town, San Antonio, London, Beijing and Equatorial Guinea’s capital, Malabo. The China roadshows reportedly attracted interest from multiple Chinese companies including Sinochem, China Gas, Beijing Gas, PetroChina, Sinoenergy and CNOOC. Drill or drop The licensing round follows a tougher government line ov
Also in this section
21 May 2024
With just a small presence from the oil and gas industry, the World Energy Council’s biennial congress gave a stark reminder of Europe’s energy priorities
20 May 2024
Not for the first time, a foreign oil company-led project in Iraq’s Kurdistan region is dealing with the aftermath of a deadly drone attack
17 May 2024
The latest drought crisis is passing, but longer-term solutions are in motion, explains Panama Canal Authority Administrator Ricaurte Vasquez Morales
16 May 2024
Flat oil growth in 2024 highlights mounting industry problems