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Equatorial Guinea puts up 26 oil and gas licenses for sale

12 Apr 2019

The Equatorial Guinea government has announced the launch of a new auction offering 26 oil and gas licenses, including 24 offshore licenses and 2 onshore licenses. Two of them already entail confirmed resources, i.e. the R-gas block, renamed EG-27, for which the Ophir Energy group had unsuccessfully tried to raise the necessary financing to install a floating liquefied natural gas (FLNG) plant, and the EG-23 block. Some companies such as Eni, Rosneft, CNOOC and Petronas have already expressed their interest for the EG27-block, as the total potential reserves of the block are estimated at 3.7 Tcf (approximately 105 bcm). The results of the auction are expected in October 2019.

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