New oil discovery in Equatorial Guinea

The Ministry of Mines and Hydrocarbons and Mobil Equatorial Guinea Inc., a subsidiary of Exxon Mobil, announced a new oil exploration, the discovery of a deposit in the Avestruz-1 well, of Block EG-06 .

The relationship between Equatorial Guinea and the oil multinational is strengthened by this discovery, partners in the exploitation of Block B.

Through Mobil Equatorial Guinea Inc., ExxonMobil works in the Zafiro field, with an interest of 71.25%, while GEPetrol has 23.75% and the State has 5%. This field has produced more than one billion barrels in more than twenty.

– ” The association of Equatorial Guinea with Exxon Mobil continues to produce new discoveries of oil, which demonstrates the enormous potential in this country and our environment conducive to oil and gas exploration, ” said Minister of the sector, Gabriel Mbega Obiang Lima , who added that it is expected ” that commerciality will be established in Avestruz-1 and we hope to see more developments in the areas surrounding Block B” .

Source: Official Web Page of the Government of the Republic of Equatorial Guinea

You May Also Like