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Equatorial Guinea Announces Plans For 2020 Licensing Round

Equatorial Guinea has announced its plans for 2020
licensing round; this was also revealed by Minister of
Mines & Hydrocarbons Gabriel Mbaga Obiang Lima at the Africa Oil Week conference. “At the end of the year –
probably in November – we will announce our 2020
licensing round, that will have the same format,” he said.The current involved a first exploration phase of two
years, plus a one-year extension option, with a drillor-
drop mechanism in the second phase and to aim
the operators willing to drill on oilfield to be on board.
“It probably will be a bit different because there will
be some blocks that will have direct negotiation. But
it will be with the same aim, starting in January and
finishing in December,” He said The ministry is expected to reveal the winners of seven blocks under the current round soon. In total 27 blocks were offered – 25 exploration tracts and two appraisal and development tracts – with 21 bids made on 14 blocks. “Our main objective is that a lot of these PSCs we want to be signed by December,” Obiang said of the seven blocks that will be offered.“Our objective is that by the time 2020 arrives, we are talking about the 2020 licensing round.”

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