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Equatorial Guinea signs production-sharing deal with ExxonMobil for block EG-11
June 5, 2017 / 11:52 AM / 4 months ago

Equatorial Guinea signs production-sharing deal with ExxonMobil for block EG-11

CAPE TOWN, June 5 (Reuters) - Equatorial Guinea has signed a production-sharing contract for offshore block EG-11 with U.S. oil major ExxonMobil, the hydrocarbons ministry said on Monday.

“Block EG-11 is the jewel among a group of already very prospective blocks that we are signing in 2017,” said Gabriel Obiang Lima, the minister of mines and hydrocarbons in Sub-Saharan Africa’s third largest producer.

ExxonMobil already operates Zafiro field, the largest oil producing field in Equatorial Guinea, and Obiang Lima said the deal was not part of the 2016 licensing round, whose winning bidders are expected to be announced later on Monday. (Reporting by Wendell Roelf; Editing by Tiisetso Motsoeneng)

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