Related Articles
Low on reserves: Gabriel Mbaga Obiang Lima attends an Opec meeting in Vienna
Forward article link
Share PDF with colleagues

Use it or lose it, Equatorial Guinea tells drillers

The West African state wants to see more activity from oil firms now the oil price has recovered, and is launching a new bid round

Equatorial Guinea has issued a stark warning to its oil and gas operators to either kick-start drilling in 2019 or "move aside", as the country ramps up efforts to stem declining oil production from maturing fields. Gabriel Mbaga Obiang Lima, the country's Minister of Mines and Hydrocarbons, said operators, which include ExxonMobil, Noble Energy, Kosmos Energy and Marathon Oil, had no excuse for delaying drilling programmes in the new era of higher oil prices. "2019 is an investment year," he said at September's Africa Oil and Power conference in Cape Town. "We will be very clear with the companies: if you invest, you can keep working in Equatorial Guinea. But if you are not going to inves



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
UAE tries to ride two horses
19 October 2021
Abu Dhabi’s plans to raise oil and gas production are advancing despite the federation’s carbon-cutting pledges
Western Canada’s gas revival
19 October 2021
Midstream pipeline expansion and cautious operator spending is fuelling an uptick in prices
Oil companies missed transition pivot
19 October 2021
Shell and activist investor both agree that mistakes were made in the ’00s
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video