Equatorial Guinea’s Minister of Mines and Hydrocarbons, Gabriel Mbaga Obiang Lima and the Director of Hydrocarbons Ministry of Mines and Hydrocarbons, shared the immediate and near-term plans by the Ministry with the African Energy Chamber which is one of its partner in the ‘Equatorial Guinea, Year of Investment’ Program.

This was during a bilateral discussion was held last week between Minister Obiang, the Director of Hydrocarbons, Robustiano Eyegue Ndong, and the Executive Chairman of the African Energy Chamber, NJ Ayuk.

The COVID-19 pandemic has caused the postponement of Equatorial Guinea’s Year of Investment Programs. The country factors the challenges posed by the pandemic and hopes to add more investment opportunities and projects to the new investment year, 2021. An example of this is the Ministry’s continuance on its mining drive-in with a focus on the mainland and it expects to drive new mining programs too.

It was agreed with the Chamber by the Minister that the pandemic has massively disrupted the activities of the energy sector. The Chamber enjoined the Ministry to continue working with oil and gas operators in the country to keep the activities of the sector running.

Minister Obiang noted that the rapid development of the Noble Energy operated Alen unitisation project will be delayed until next year. The project is a liquid-rich gas and condensate field located in Block O, about 32 kilometres off the east coast of Bioko Island in the country.

The Alen backfill gas project into Equatorial Guinea Liquified Natural Gas (EGLNG) is still ongoing and the project is scheduled to come online within the first three months of 2021.

Speaking on the rapid approval of Chevron acquisition of Noble Energy, the Minister said the Ministry is studying the transaction at the moment concerning the country and will respond when necessary taking the laws and regulations of the country into consideration as well as legal instruments like the Production Sharing Contract (PSC).

Speaking on the Gas Mega Hub, it was said that the country has contracted Gas Strategies to continue work on a revised Gas Master Plan. The Minister said it is a key step towards developing a timely, economic and equitable plan for the country to monetise gas and to have a Gas Mega Hub around Punta Europa.

Speaking on the ongoing Exploration activities in the country, the Minister said Kosmos Energy is likely to proceed with a drilling campaign in 2022. Trident Energy has also started a 4D seismic survey over its assets in Block G which includes the Ceiba and Okume offshore fields with a potential to drill three wells in 2021.

The Chairman of the Chamber commended the commitment to the development of gas as it is proving to be the game-changer in the market of recent.

“Equatorial Guinea is an important oil and gas player and continues to be a great partner in advancing the relationships with investors while promoting local content. The Chamber welcomes this dialogue and we remain committed to more engagements with African energy leaders because this is vitally important to the private sector.” said NJ Ayuk

“The African Energy Chamber, supported by leading energy companies, is confident that by working together, we will ensure win-win opportunities as well as engage candidly on serious issues with African governments. These frank, no-holds-barred conversations concerning our energy industry can guide African governments to create an enabling environment that is effective for investors and citizens alike.”