Thursday, October 9, 2025
23.5 C
Lagos

E/Guinea Launches 2016 Oil, Gas Licensing Round

Equatorial Guinea’s Ministry of Mines, Industry and Energy (MMIE) has launched the country’s latest oil and gas blocks licensing round, EG Ronda 2016 at the Africa Oil & Power conference.

Companies are now able to submit letters of interest to the Ministry, and to view the official map of available blocks.

The MMIE intends to build upon Equatorial Guinea’s strong reputation for exploration success by inviting oil and gas companies with the requisite financial and technical competency to explore its blocks. A total of 114 discoveries have been made in the country to date, with 48 resulting in discoveries. The discovery success rate of 42 percent is double the global average.

Equatorial Guinea is pushing ahead to develop energy infrastructure, including storage, petrochemicals and floating LNG, which will support and incentivize further exploration and production.

Minister of Mines, Industry and Energy H.E. Gabriel Mbaga Obiang Lima said: “Our nation is a proven profitable home for global oil and gas companies that explore our waters, and now we look forward to meeting potential explorers at roadshow events worldwide in 2016.”

The EG Ronda 2016 makes available all acreages not currently operated or under direct negotiation. This comprises 37 blocks in total, 32 of them offshore. This includes Block A-12, newly relinquished by Marathon Oil, which has hosted multiple oil discoveries. Also open is the former EG-05 block which was once operated by Glencore plc. EG-05 was then split into four prospective offshore licenses which have never been drilled.

The MMIE will publicise the bidding round at events in London on June 20 during the Africa Assembly; in Singapore

September 20-23; in Istanbul during the World Energy Congress October 9-13; and the last event in Houston in November.

The bidding concludes November 30.

spot_img
spot_img
spot_img

Hot this week

Fidelity Bank Commences Disbursement of FGN MSME Intervention Funds

Tier One Lender, Fidelity Bank Plc, has commenced the...

Fidelity Bank Honours Afreximbank President, Benedict Oramah, in Lagos

L -R: Minister of Industry, Trade and Investment, Dr....

Union Bank Champions Employee Wellness with Stay Recharged Health Walk

Union Bank of Nigeria held its first-ever Stay Recharged...

Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Stanbic IBTC Holdings Reports Remarkable Financial Growth for H1 2025    

Overview of Financial Performance  As of June 30, 2025, Stanbic...

Topics

Seplat Energy Signs MoU with MTN Nigeria on 5G

Seplat Energy has signed a 5G2Business Memorandum of Understanding...

Standard Chartered Mobile Banking Targets 1m in Nigeria, Others

Standard Chartered Bank is bringing its newest mobile and...

InterswitchSPAK 6.0: The Race to Discover Nigeria’s Next STEM Champion

The 6th edition of the InterswitchSPAK TV show is...

World Bank, Partners Launch $24bn Universal Health Coverage in Africa

The Sixth Tokyo International Conference on African Development (TICAD-VI),...

MMM Owner Begs Media: Leave Us Alone

Sergey Mavrodi , founder of Mavrodi Mondial Moneybox has...

Akinwumi Adesina: Leading Agricultural Innovation and Economic Growth of Africa

As an agricultural economist, Dr. Akinwumi Adesina has been...

NCC Boss, Umar Danbatta to Deliver Keynote Address at SUPERNEWS Confab April 27

The Executive Vice-Chairman/CEO, Nigerian Communications Commission (NCC), Professor Umar...
spot_img

Related Articles

Popular Categories

spot_imgspot_img