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Equatorial Guinea To Re-award Former Block R

Equatorial Guinea is about to re-award EG-27 formerly know as block R . The block is where former independent Ophir Energy encountered its fortuna floating liquefied natural gas which never comes to pass. EG-27, presently gunning by Russian companies is one of seven blocks over which the Ministry of Mines & Hydrocarbons is discussing deals with companies in its 2019 Offshore Licensing Round, with all seven to be awarded before end of this year. EG has put a total of 27 blocks for the next licensing round, which include 25 exploration blocks and two appraisal and development tracts. EG-23, BEING formerly operated by US independent Marathon Oil of the 27, 21 bids were made on 14 blocks.This was revealed by Equatorial Guinea Minister of Mines & Hydrocarbons, Gabriel Mbaga Obiang Lima at the Africa Oil Week conference in Cape. “We have seven blocks – and when we say seven blocks, I can guarantee you that those blocks will be signed by the end of this month,” he said. “Our objective is that by the time 2020 arrives, we are talking about the 2020 licensing round,” Obiang said of the country’s next planned round, set to open in January and run to December 2020. The seven blocks set to be awarded this month are: EG-27 and EG-23, EG-03, EG-04, EG-09, EG-18 and EG-29. EG-03 and EG-04 are onshore and to the south, while EG-29 is also in the south off the Rio Muni enclave. EG-09 and EG-18 are deep-water tracts. The 14 blocks to receive bids were, in addition to the seven above: EG-05,EG-08, EG-10, EG-15, EG-17, EG-19 and EG-30. “I am very confident that those companies that are discussing those seven blocks are serious companies that have the knowhow, the technology and are going to be drilling,” Obiang said. “The only hint I can give – because it is very important for us – is that “We have seven blocks – and when we say seven blocks, I can guarantee you that those blocks will be signed by the end of this month.” Definitely for (EG-27), we do have appliers, and definitely some of them are Russian speakers. That’s as much as can say. The rest are from different continents,” he added. “The only think I can say is that (will finally have an applier – it is going to come and hopefully it will be positive for everybody.” asking about the block that hosts the would-be Fortuna FLNG scheme) on his country’s expectation FROM INVESTORS IN TERMS OF exploration and, potentially, development plans.“Our objective is mainly not the financials – especially the signature bonus – but it is the working programmes. We want to make sure that companies that are coming into the country are not just doing reprocessing, because some of the blocks we already have 2D and 3D seismic on them,” he said.

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