Project Profile
Value: undisclosed
Location: formerly blocks D-8, D-9, C-9, C-10 (part), C-11 (part), B-10 and B-11 (part), offshore Location: Bioko Island, Republic of Equatorial Guinea
Start-up Year: -
The Ministry of Mines, Industry and Energy has signed a new Production Sharing Contract (PSC) for Block EG-06, offshore Bioko Island, Republic of Equatorial Guinea. The PSC was signed between the Ministry of Mines, Industry and Energy on behalf of the Government of Equatorial Guinea, ExxonMobil Exploration and Production Equatorial Guinea (Offshore) Limited and GEPetrol, the national oil company of Equatorial Guinea. Block EG-06 is located offshore Bioko Island, immediately to the north of the Ophir Energy\'s Block R and adjacent to the international border with Nigeria.
Block EG-06 comprises the area formerly covered by blocks D-8, D-9, C-9, C-10 (part), C-11 (part), B-10 and B-11 (part). The EG-06 PSC’s ratification was completed in April 2015. The ratification instrument marks the commencement of the term of the production sharing contract for Block EG-06 and therefore its enforceability and the start of operations. As part of the minimum work obligations for this PSC, ExxonMobil has committed to acquire 750 sq km of new 3D seismic data and drill at least two wells during the five-year exploration period. Prior to the award, there had been three seismic surveys conducted over the acreage covering 793 sq km in total. The acreage lies northwest of ExxonMobil\'s Block B, and was reserved for ExxonMobil during the 2014 licensing round. Five discoveries have been made by ExxonMobil in Block B: Azurita-1, Berilo-1, Turmelina-1, and Esmerelda. The other, Zafiro-1, led to the discovery of the 1.1 billion barrel Zafiro field in 1995.
Operators:
ExxonMobil: Operator with 80% interest
GEPetrol: 20% interest