GEO ExPro

Licensing Update: Equatorial Guinea

New Bidding Schedule Announced
This article appeared in Vol. 13, No. 6 - 2017

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(Source: CIA) In early November the Equatorial Guinean Ministry of Mines and Hydrocarbons announced the full schedule for bidding on Equatorial Guinea acreages in EG Ronda 2016. By the end of January, 2017, all interested parties should have submitted prequalification data, so that the list of pre-qualified companies can be announced in February. The round will close on April 28, 2017 and after negotiations with successful companies it is hoped to ratify the resultant PSCs on 15 December.

EG Ronda 2016, which launched on June 6, 2016, offers all exploration blocks in the country not currently under direct negotiations for bidding – 17 licenses in total, predominantly offshore in water depths ranging from shallow to over 2,000m.

According to H.E. Gabriel Mbaga Obiang Lima, the Minister for Mines and Hydrocarbons, “Now is the best time to explore for oil and gas in Equatorial Guinea, when the cost of drilling a well is cheaper and when you have access to a wealth of advanced geological data. Equatorial Guinea’s legacy of exploration success and strong partnerships with international companies create a perfect environment for upstream investment.”

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