Offshore staff
CAPE TOWN, South Africa — GEPetrol, Equatorial Guinea’s state-owned oil and gas company, will assume full ownership of the producing offshore Zafiro Field in 2025.
During a presentation at the African Energy Week (AEW) 2023 conference in Cape Town, organized by the African Energy Chamber, GEPetrol’s director of operations Manuel Ndong Edo said his country also sees new development opportunities in the offshore Alba, Aseng, Ceiba and Okume fields.
Zafiro’s current operator Exxon Mobil will, in partnership with GEPetrol, take a 100% interest in the project. The state company, he said, “represents the best partner to maximize and accelerate the development and monetization of reserves in the block.”
Production from Zafiro has dwindled following last year’s shutdown and subsequent scrapping of the Zafiro Producer floating production unit.
Earlier this year, the Ministry of Mines and Hydrocarbons signed three new offshore production sharing contracts with Africa Oil Corp. and Panoro Energy for blocks EG-18, EG-31 and EG-01, respectively.
Now GEPetrol expects to sign another with a company for the development of blocks EG-06 and EG-11 in the next few weeks.
As for Block-27, GEPetrol is seeking $3.1 billion to develop and monetize more than 3.8 Tcf of gas, and it also plans use Block B as a future gas export hub.
10.20.2023
