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PRESS RELEASE

 

Malabo - February 18th , 2014

SIGNATURE OF HEADS OF AGREEMENT BETWEEN
THE REPUBLIC OF EQUATORIAL GUINEA AND
ARCHEAN Fertilizer Pte Ltd

The Ministry of Mines, Industry and Energy is pleased to announce that a Heads of Agreement (HoA) has been signed today between the Republic of Equatorial Guinea, represented by H.E Gabriel Mbaga Obiang Lima, Minister of Mines, Industry and Energy and Archean Fertilizer Pte Ltd, regarding the commencement of a Feasibility Study for the first phase of an Integrated Petrochemical Complex to be developed at Riaba, Bioko Island, Equatorial Guinea.

The HoA covers delivery of a Feasibility Study to identify the optimum scope for a Fertilizer complex to be developed at the site, including a world scale Ammonia plant and potential future Urea and NPK production, based on supply of gas from Blocks O & I.

The Feasibility Study will include a Marketing Study to evaluate the optimum marketing strategy for the products in question and a Technical Study to assess capital and operating costs for the future plants.

The Minister of Mines, Industry and Energy, H.E Gabriel Mbaga Obiang Lima stated “The Ministry of Mines, Industry and Energy is very pleased that Equatorial Guinea continues to attract interest in its downstream industrialisation program and is very happy to welcome investment from Archean Fertilizer Pte Ltd.”

 

 

 

 

PRESS RELEASE

 

Malabo - February 20th , 2014

SIGNATURE OF LETTER OF INTENT BETWEEN
THE REPUBLIC OF EQUATORIAL GUINEA,
OPHIR ENERGY, BUMIARMADA AND EXCELERATE

 

The Ministry of Mines, Industry and Energy is pleased to announce that two Letters of Intent (“LOIs”) have been signed today in Singapore regarding the Development and implementation of a gas commercialisation project and floating liquefied natural gas ("FLNG") project in respect of Block R offshore Equatorial Guinea.

Each LOI was signed between the Ministry of Mines, Industry and Ophir Energy with BumiArmada and Excelerate, respectively, and covers the selection of the entity that will be providing the FLNG vessel and related design, engineering, construction, commissioning, operation, local content and maintenance of such FLNG vessel.

The purpose of the LOIs is to record the parties' commitment to progressing the project by providing the context for a memorandum of understanding to be signed next between the State, Ophir and the selected FLNG provider in 30 days.

The Minister of Mines, Industry and Energy, H.E Gabriel Mbaga Obiang Lima stated “The Ministry of Mines, Industry and Energy is very excited with the development of this project which will make Equatorial Guinea one of the world leaders in implementing this relatively new floating liquefaction technology.”

 

 

PRESS RELEASE

 

Malabo - April 1st , 2014

FOLLOWING A SPECIAL MEETING HELD IN MALABO, EQUATORIAL GUINEA,
BETWEEN THE OIL AND GAS AND ENERGY MINISTERS OF
CÖTE D'IVOIRE, EQUATORIAL GUINEA and GHANA

 

On the occasion of the 31st APPA Ministerial Conference, the Energy Ministers of Côte d’Ivoire, Equatorial Guinea and Ghana held a special meeting to follow up on the proposed - Gulf of Guinea Regional Gas Company - on which they had agreed on initiating the feasibility on February 6th 2014 in Accra, Ghana.

The 3 Ministers confirmed the importance and urgent need to pursue this idea and work on this regional gas company.

To that end, at the Malabo special meeting today, the 3 Ministers instructed their NOC and their respective Ministries, to pursue relevant actions specifically to finalize the framework of the feasibility study, within 2 weeks, at a meeting to be held in Accra.

 

 

 

 

PRESS RELEASE

 

Malabo -May 6th , 2014

2014 LICENSING ROUND

 

The Ministry of Mines, Industry and Energy is pleased to announce that it intends to hold a licensing round for all the available open acreage in the Republic of Equatorial Guinea during 2014. Full details will be announced at the World Petroleum Congress in Moscow, Russia, 15th – 19th June, 2014.

 

 

 

PRESS RELEASE

 

Malabo - May 16th , 2014

SIGNING OF A PROTOCOL OF AGREEMENT BETWEEN THE REPUBLIC
OF COTE D’IVOIRE, THE REPUBLIC OF EQUATORIAN GUINEA
AND THE REPUBLIC OF GHANA

The Governments of the Republics of Côte d'Ivoire, Equatorial Guinea and Ghana, represented by the H.E. Adama Toungara, Minister of Petroleum and Energy of Côte d’Ivoire, Hon. Emmanuel Armah-Kofi Buah, the Minister of Energy and Petroleum of Ghana, and H.E. Gabriel Mbaga Obiang Lima, the Minister of Mines, Industry and Energy of Equatorial Guinea are pleased to announce that they have signed today a Protocol of Agreement that creates a framework under which all three countries will work together to explore possibilities of establishing a jointly owned regional gas company.

All three countries are cognizant of the benefits that would be derived from the regional gas company including new revenue streams from the sale of hitherto unexploited natural gas, creation of new jobs, and facilitating access to gas by power plants, industries and homes that need them as a source of energy or feedstock. To achieve the goal under the Protocol, the three countries have agreed to provide resources to carry out a feasibility study in the coming months. The outcome of the feasibility study will inform their next steps.

During the signing ceremony, H.E. Adama Toungara had the following to say, “I am happy with the progress that has been made so far in furthering this project. I hope all parties will work closely to fast track the completion of the Heads of Agreement within the next month, upon which my Government would continue working with our partners to fulfill our obligation as stated in this Protocol Agreement.”

 

 

 

PRESS RELEASE

 

Malabo - June 9th , 2014

MEMORANDUM OF UNDERSTANDING SIGNED BETWEEN
THE MINISTRY OF MINES, INDUSTRY AND ENERGY AND EXXONMOBIL

The Ministry of Mines, Industry and Energy is pleased to announce that a Memorandum of Understanding (MOU) was signed in Malabo today between the Government of Equatorial Guinea, represented by the Ministry of Mines, Industry and Energy, and ExxonMobil, relating to Blocks D-8, D-9, C-9, C-10 (part), C-11 (part), B-10 and B-11 (part), offshore Bioko Island, Republic of Equatorial Guinea.

In the MOU, the parties agree to commence direct negotiations for Blocks D-8, D-9, C-9, C-10 (part), C-11 (part), B-10 and B-11 (part) as a single Production Sharing Contract (PSC). It is anticipated that negotiations will commence as soon as possible.

ExxonMobil operates and holds a 71.25 per cent interest in Block B, offshore Bioko Island, which contains the giant Zafiro oil field. The National Oil Company of Equatorial Guinea, GEPetrol, holds a 23.75 per cent interest and the State holds the remaining 5 per cent interest in Block B.

 

 

PRESS RELEASE

 

Malabo - June 16th , 2014

EQUATORIAL GUINEA 2014 LICENSING ROUND

The Ministry of Mines, Industry and Energy is pleased to announce that the Equatorial Guinea 2014 Licensing Round will open on July 1st, 2014. Bids are being sought for all available open acreage. Acreage is being made available for direct negotiation and competitive bidding as shown on the attached map. The Licensing Round is scheduled to close on 30th September, 2014.

Companies interested in bidding in the 2014 Licensing Round will first have to pre-qualify. The pre-qualification document must be completed and submitted to the Ministry of Mines, Industry and Energy no later than Friday August 15th, 2014. The pre-qualification document must be accompanied by the pre-qualification processing fee. Pre-qualification documents submitted without the accompanying processing fee will not be considered.

Companies who successfully pre-qualify will be notified by the Ministry by Friday August 29th, 2014 and will be invited to bid on their selected blocks. Companies already active in Equatorial Guinea as operator or non-operator do not have to pre-qualify.

The Ministry of Mines, Industry and Energy will have a data room available in Henley-on-Thames, UK for interested companies to view available data. The data room will be open to companies from July 1st, 2014 on an appointment only basis.

Further details of the Pre-qualification Documents, Draft Guidelines for Bidders, Model Contract, the 2006 Hydrocarbon Law, Petroleum Regulations, Bidding Parameters, Data Room availability and Data Packages, will be posted on this Ministry website www.equatorialoil.com in the near future.

 

PRESS RELEASE

 

Malabo - August 5th , 2014

PRESS RELEASE ON THE SIGNING OF GAS SALES AGREEMENT AMONG THE REPUBLIC OF
EQUATORIAL GUINEA AND BLOCKS O & I PRODUCERS

The Government of Equatorial Guinea is pleased to announce that its plans to establish the Integrated Petrochemical Complex at Riaba, Bioko Island, Equatorial Guinea have moved a step closer to realization with the signing of the Gas Sales Agreement (“GSA”) between itself, represented by Ministry of Mines, Industry and Energy, and producers situated in Blocks O & I who comprise Noble Energy EG Ltd, Atlas Petroleum International Limited, Glencore Exploration (EG) Limited, Glencore Exploration Limited, Osborne Resources Limited, and Compania Nacional de Petroleos De Guinea Ecuatorial (GEPetrol). 

The GSA signed on 23 May 2014 provides for a dedicated supply of gas to be used as feedstock to the petrochemical manufacturing plants situated in the complex and to power an onsite power plant.  Through this arrangement, manufacturers and investors operating in the petrochemical complex will be assured of the availability of competitively priced natural gas delivered in a safe, reliable and environmentally sustainable manner thereby enhancing the benefits of the petrochemical complex project to the people of Equatorial Guinea. 

The Minister of Mines, Industry and Energy, H.E Gabriel Mbaga Obiang Lima [while expressing his gratitude and continued support to the Blocks O & I producers] stated “We feel really honored to be engaged in this venture with the Block O and I partners. This is a concrete example of our collaborative approach in our desire to continue creating opportunities for investors and the citizens of Equatorial Guinea.  The petrochemical complex that will be developed with investment from reputable investors and the government will reshape the petrochemical market dynamics in the region and move Equatorial Guinea closer to meeting the goals of ‘Horizonte 2020’.”

 

PRESS RELEASE

 

Washington D.C., United States of America - August 5th , 2014

SIGNING OF AN UMBRELLA AGREEMENT TO SUPPORT INFRASTRUCTURE DEVELOPMENT AND FINANCING AMONG THE REPUBLIC OF EQUATORIAL GUINEA, SOCIEDAD NACIONAL DE GAS GUINEA ECUATORIAL, BG GAS MARKETING LIMITED AND BG EQUATORIAL GUINEA LIMITED

The Government of Equatorial Guinea “Government” is pleased to announce that today, through its Ministry of Mines, Industry and Energy and Sociedad Nacional de Gas de Guinea Ecuatorial (SONAGAS G.E.), it signed an Umbrella Agreement with BG Equatorial Guinea Limited and BG Gas Marketing Limited (collectively, “BG”) under which the Government and BG will jointly fund the construction of key public and commercial infrastructure projects in Equatorial Guinea.  The projects include a compressed natural gas plant and refilling stations to support a new fleet of gas-fueled engine buses to be acquired for the cities of Malabo and Bata, and the re-powering of a 24MW fuel oil-fired electric generating plant in Bata to use natural gas as a fuel source.  The Umbrella Agreement is expected to last while the projects are being implemented in accordance with the agreed upon funding and execution mechanisms.

At the signing ceremony, the Minister of Mines, Industry and Energy, H.E Gabriel Mbaga Obiang Lima made the following remarks: “this Agreement will present an opportunity for the Government and BG to further strengthen their relationship and will also serve as a model for partnerships in Equatorial Guinea to maximize its natural resources for the benefit of its people. Once completed, the projects will greatly benefit the people and businesses in Equatorial Guinea, including BG, by providing efficient means of transport and providing power for both industrial and domestic consumption.”

 

 

PRESS RELEASE

 

Malabo - August 6th , 2014

PSC NEGOCIATIONS BETWEEN THE MINISTRY OF MINES, INDUSTRY AND ENERGY AND EXXONMOBIL

The Ministry of Mines, Industry and Energy is pleased to announce that following the signature of a Memorandum of Understanding (MOU) in Malabo on June 9th, 2014, between the Government of Equatorial Guinea, represented by the Ministry of Mines, Industry and Energy, and ExxonMobil, that PSC negotiations commenced in Houston in July and have been continuing satisfactorily in Washington DC in early August. The Ministry anticipates that negotiations will conclude in the near future. The PSC negotiations relate to Blocks D-8, D-9, C-9, C-10 (part), C-11 (part), B-10 and B-11 (part), offshore Bioko Island, Republic of Equatorial Guinea.

ExxonMobil operates and holds a 71.25 per cent interest in Block B, offshore Bioko Island, which contains the giant Zafiro oil field. The National Oil Company of Equatorial Guinea, GEPetrol, holds a 23.75 per cent interest and the State holds the remaining 5 per cent interest in Block B

 

 

 

PRESS RELEASE

 

Malabo - August 11th , 2014

EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE (EITI)

The Republic of Equatorial Guinea was ruled out as a candidate country in 2010 after failing to timely submit a report to the EITI Organization and the justification provided by the Government not being accepted.

Equatorial Guinea is currently in the process of preparing to re-apply for admission, first as a candidate, and later, as a full member.   We are forming the National Commission and the debate with the civil society and the operating extraction companies in preparing the process is a fact.  There has been contact with the national committees in other countries such as Congo, United Kingdom, Cameroon, USA, and some organizations close to EITI such as the World Bank, which is part of its Board of Directors, and others such as the U.S. Department of State, and some governments representatives like Spain, Ghana, etc.   In particular, this agency is part of the assistance contracted by the Government to advise on the new admission process.   At this time, we have contacted the Permanent Secretariat in Oslo and they will be part of a series of seminars that will be performed soon in the two main cities of the country, Malabo and Bata.   Further, an MOU (Memorandum of Understanding) has also been signed with the law firm Greenberg Traurig for legal assistance throughout the admissions process as a candidate country first and implementer later.   We believe that once formed, the National Commission, the country will be ready to present its application as a candidate country by the first half of 2015.   The Republic of Equatorial Guinea is committed to enhance transparency and improve good governance in the management of the profits from the exploitation of our resources. We are confident that this is a critical step in the right direction in our goal to further the development and growth of our country and its ties with the international community.

 

 

 

PRESS RELEASE

 

Malabo - August 8th , 2014

DECLARATION BY H.E. OBIANG NGUEMA MBASOGO REGARDING THE EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE (EITI)

On August 8, H.E. the President of the Republic addressed a speech to the attendees of the Equatorial Guinea Investment Forum held at the St. Regis Hotel in Washington D.C., which reaffirmed the country's commitment to adhere to the principles advocated by EITI.

Presidents_address

With this statement, Equatorial Guinea takes another step on its way to the readmission as a candidate country for EITI (Extractive Industries Transparency Initiative).

The new standard of EITI has as its first requirement in its point 1.1 "The Government should issue a public and unambiguous statement in its intention to implement EITI," so that the above declaration takes a giant step on this path to access EITI.

The full speech by H.E. President Obiang Nguema Mbasogo during the Investment Forum held in Washington on August 8 can be read by clicking on the image.

 

 

PRESS RELEASE

 

Malabo - August 14th , 2014

ANNOUNCEMENT OF DEADLINE EXTENSION FOR 2014 LICENCE ROUND

Due to an encouragingly high demand from the industry to view the available data, the Ministry of Mines, Industry and Energy is pleased to announce that it is extending the deadlines of the Equatorial Guinea 2014 Licensing Round as follows:

Deadline for Pre-Qualification: September 15th, 2014

Deadline for Expression of Interest in Direct Negotiation Blocks: September 30th, 2014

Closure of Licensing Round and Announcement of Companies selected for Direct Negotiation: October 31st, 2014

Full details of the Pre-qualification Documents, Draft Guidelines for Bidders, Model Contract, the 2006 Hydrocarbon Law, Petroleum Regulations, Bidding Parameters, Data Room availability and Data Packages, are available on the Ministry website www.equatorialoil.com/2014_round

* Please note that no decision on the Direct Negotiation Blocks has yet been taken and therefore the Ministry will continue to accept ‘Expressions of Interest’ up to the new deadline of September 30th, 2014.

 

 

 

 

 

PRESS RELEASE

 

Malabo - September 16th , 2014

GAS DISCOVERY BLOCK R, OFFSHORE BIOKO ISLAND

The Ministry of Mines, Industry and Energy is pleased to announce that the Silenus East-1 well drilled by Ophir Energy in Block R, offshore Bioko Island is a new gas discovery.

The Silenus East-1 well encountered a 67m gross gas column in the primary target with high quality reservoir.

The Silenus East-1 well was deepened to test a secondary high risk oil target and encountered high quality, but water-wet reservoirs with weak oil shows.

Ophir estimates that the Silenus East -1 has discovered a mean recoverable reserve of 405 bcf of gas and has significantly de-risked similar prospects in the area and Ophir further estimates that the total mean recoverable gas in the broader Silenus area including this discovery is ~ 1.2 TCF.

Following the Silenus East-1 and the previously drilled Tonel North-1 well results, Ophir estimate that the total mean recoverable resources for Block R, including the discoveries and de-risked volumes, are now 3.4 TCF, comprising 1.3 TCF from the Fortuna Complex, 1.2 TCF from the Silenus Complex, 0.5 TCF from Tonel and 0.4 TCF from the other smaller discoveries.

The Vantage Titanium Explorer drillship has now moved to complete the Fortuna-2 appraisal well, where Ophir will conduct the first flow test in Block R.

H.E Gabriel Mbaga Obiang Lima, Minister of Mines, Industry and Energy stated: ‘I am extremely pleased that the increase in recoverable reserves in Block R, as a result of the drilling of the Silenus East-1 well, may result in a potential expansion of the Block R FLNG project from a 2.5mm TPA to a 3.0mm TPA project. We are currently in negotiations to conclude the Block R gas terms and to confirm the midstream partners, with first gas from the FLNG project anticipated in early 2019.’

 

 

 

 

PRESS RELEASE

 

Malabo - October 21st , 2014

FORTUNA-2 APPRAISAL WELL TEST RESULTS, BLOCK R,
OFFSHORE BIOKO ISLAND

The Ministry of Mines, Industry and Energy is pleased to announce that the Fortuna-2 appraisal well, drilled to prove the reservoir deliverability of the Fortuna gas field, Block R, Offshore Bioko Island has been successfully tested.

A DST conducted over the reservoir interval achieved a sustained flowrate of 60 MMscfd with a drawdown of less than 20 psi at the reservoir. This rate was constrained by the limit of the surface equipment. Based on the DST results the operator of Block R, Ophir Energy, estimates that the well would be able to deliver a production rate of ~ 180 MMscfd through the 5” drill pipe used for the DST.

The operator will now evaluate the DST results, as well as core data obtained over the reservoir interval in the well, as part of pre-FEED studies, to create reservoir models to determine the final number of development wells.

Ophir estimates that the mean recoverable resources for the Fortuna field complex are 1.3 TCF and the total estimated mean reserves for Block R, including discoveries and adjacent de-risked volumes, are now 3.4 TCF.

The next steps for the Block R FLNG development will be agreement of gas fiscal terms and the selection of the consortium to build, own and operate the mid-stream project. Award of the upstream and midstream FEED contracts is planned in early 2015, FID is expected in 2016 and first gas in 2019.

 

 

 

 

PRESS RELEASE

Malabo - November 6th, 2014

SIGNATURE OF MOU APPOINTING EXCELERATE AS MIDSTREAM PARTNER FOR THE OPHIR BLOCK R FLOATING LIQUIFIED NATURAL GAS (FLNG) PROJECT, OFFSHORE BIOKO ISLAND, EQUATORIAL GUINEA

The Ministry of Mines, Industry and Energy is pleased to announce the signature of a detailed Memorandum of Understanding (“MOU”) between the Ministry of Mines, Industry and Energy (“MMIE”), the national oil company of Equatorial Guinea, GEPetrol, Ophir and Excelerate. This MoU confirms the appointment of Excelerate Energy, L.P (“Excelerate”) as the lead Midstream Partner for the provision of Floating Liquefaction and Storage facilities at Ophir’s operated FLNG project in Block R, offshore Bioko Island, Equatorial Guinea.

Excelerate has been appointed as the lead in a consortium of technology providers that is expected to include Samsung Heavy Industries and Black & Veatch.

The MOU has fully aligned the parties ahead of a full FEED contract later this year.

Following the recent announcements of (i) the successful Fortuna-2 Well drill stem test and (ii) the agreement with the MMIE on the improved Block R gas fiscal terms to underpin the value of the project, this midstream consortium appointment completes the final key milestone before FEED.

The total estimated mean recoverable resources of Block R, including the discoveries and adjacent de-risked volumes, are 3.4TCF. These resources will be developed through a four phase development which will commence with the development of the Fortuna Field. Additional volumes (1.2TCF from the Silenus Complex, 0.5TCF from Tonel and 0.4TCF from other smaller discoveries) will, in turn, form the later phases of the development.

The Upstream and Midstream FEED contracts will commence in early 2015 and late 2014, respectively. FID is expected in 2016 and first gas in 2019.

 

 

 

PRESS RELEASE

Malabo - November 6th, 2014

UPDATE, CNOOC S-3 WELL, BLOCK S, OFFSHORE RIO MUNI

The currently drilling CNOOC S-3 well, located in the southern part of Block S, offshore Rio Muni, has encountered hydrocarbons in the target Upper Cretaceous Santonian section. The well will be fully logged and evaluated and possibly tested once the well has reached TD in the next couple of days. After testing the Ministry will be able to provide further information about the results of the S-3 well.