American independent PanAtlantic Exploration will join the EG Ronda global roadshow to assist the Government of Equatorial Guinea in the promotion of the exploration acreage on offer. Members of the PanAtlantic management team will be in attendance at upcoming events lending their considerable expertise on exploring Equatorial Guinea’s offshore licenses. PanAtlantic brings extensive geotechnical and operational knowledge of Equatorial Guinea’s hydrocarbon basins and will provide a valuable perspective on the production sharing contract regime and investment landscape.
The Equatorial Guinea Oil and Gas Licensing Round announces the next stage of its world tour. On September 20-23, Ministry of Mines and Hydrocarbons officials will visit Singapore to promote exploration opportunities to Asian and Australian investors.
PanAtlantic Energy entered Equatorial Guinea’s Block K in 2010 and is now exploring a total of three license areas as operator. Chief Operating Officer H. Daniel Hogan spoke to the EG Ronda 2016 team about PanAtlantic’s strategy and perspective on exploring Equatorial Guinea’s oil and gas blocks.
The Ministry of Mines and Hydrocarbons (MMH) of Equatorial Guinea signed an historic memorandum of understanding with Shell Group on July 4, 2016. The MoU will enable greater collaboration between the two parties on numerous oil and gas-related projects. This new agreement testifies to the Equatoguinean Government’s continued drive to extract the maximum value from its natural resources.
On June 20, 2016, His Excellency the Minister of Mines, Industry and Energy presented an overview of Equatorial Guinea’s energy sector at the Oil and Gas Council’s Africa Assembly in London. Watch the video, including the second round of the EG Ronda 2016 promotional tour, here:
H.E. the Minister Gabriel Mbaga Obiang Lima, Minister of Mines, Industry and Energy of Equatorial Guinea, has reiterated his call for increased investment in oil and gas exploration. Presenting at the Oil & Gas Council Africa Assembly in London, the Minister continued to promote licensing opportunities in Equatorial Guinea, saying the worst of the global commodity slump was over.
“Now is the time to promote investment in oil and gas,” the Minister said. “The rains are over and the sun is coming out and we know the flowers will soon begin to blossom.”
The Equatorial Guinea oil and gas licensing round lands in London on June 21, 2016 for the Africa Assembly, hosted by the Oil & Gas Council. Key officials of the Ministry of Mines, Industry and Energy (MMIE), including H.E. the Minister Gabriel Mbaga Obiang Lima, Minister of Mines Industry, will be present at the two-day conference to promote the bidding round, dubbed EG Ronda 2016. The Minister will also participate in a panel session to discuss major projects in Equatorial Guinea, including Fortuna FLNG.
EG Ronda 2016 presents the text of H.E. the Minister Gabriel Mbaga Obiang Lima’s keynote speech at the Africa Oil & Power conference on June 6:
Today, I have the distinct pleasure to talk to all of you about the State of Africa’s oil and power industry. We know that the last 18 months have been especially challenging for our industry. A sustained decline in the oil price forces everyone to make difficult decisions and painful adjustments. For oil companies, that comes in the form of a lower share price and unfortunate layoffs of workers. Portfolios must be consolidated and some assets need to be relinquished. For Africa countries that rely on oil and gas as the engines of economic growth, we must often come terms with stagnation or even outright recession. Crucial infrastructure projects which are critical to the economic growth of our country must either be delayed or canceled. Losses of tax revenues result in the cutting of social welfare programs in health and education that are vital to the improvement of our societies.
Cape Town, June 6, 2016 – During a press conference held during the Africa Oil & Power conference, the Ministry of Mines, Industry and Energy of Equatorial Guinea announced the near-shore discovery of gas accumulates at the EG-01 block, located in the Rio Muni Basin. The exploratory well on the Sothis Prospect was drilled by G3 Oleo e Gas of Brazil. Operations kicked off on March 14, 2016 with the drilling rig Sapphire Driller.
In an interview on CNBC Africa on June 6, H.E. Gabriel Mbaga Obiang Lima, Minister of Mines, Industry and Energy announced the launch of the EG Ronda 2016 licensing round and explained why now is the right time to invite companies to express interest in Equatoguinean acreages.
“The good news is that the slump is over. Prices are stable right now and we do believe that this is the best time to be able to start promoting acreage again,” said H.E. the Minister. “Our model PSC contracts are one of the most attractive in the region … [and] we have been focusing on investing all our resources on infrastructure and human resources”