Africa Oil & Gas: ExxonMobil grabs more acreage off Equatorial Guinea

ExxonMobil-signage-at-Downtown-Houston-Humble-Oil-Company-Building
Image courtesy of ExxonMobil

US-based energy giant and LNG player ExxonMobil on Monday signed a production sharing contract with the government of Equatorial Guinea for a deepwater block located 36 miles west of Malabo.

Deepwater block EG-11 measures about 1,242 square kilometers and is adjacent to the Zafiro field located in Block B, ExxonMobil said in its statement.

The Block EG-11 is also next to Block R where the operator Ophir Energy, together with its partners OneLNG, a joint venture between Golar LNG and Schlumberger, and GEPetrol is developing the Fortuna FLNG project.

Following ratification of the contract by the government, ExxonMobil will carry out the work program as operator with an 80 percent working interest. GEPetrol holds a 20 percent working interest.

The Block EG-11 is also next to Block R where the operator Ophir Energy, together with its partners OneLNG, a joint venture between Golar LNG and Schlumberger, and GEPetrol is developing the Fortuna FLNG project.

ExxonMobil’s unit Mobil Equatorial Guinea operates the Zafiro oil field with 71.25 percent interest. GEPetrol has 23.75 percent interest and Equatorial Guinea has 5 percent.

The field is in water depths between 400 and 2,800 feet and has produced more than 1 billion barrels in its more than 20 years of production.

ExxonMobil Exploration and Production Equatorial Guinea (Offshore) holds an 80 percent interest in block EG-06, which is adjacent to block EG-11.

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