MALABO, Equatorial Guinea – The Ministry of Mines and Hydrocarbons of Equatorial Guinea has extended the closing date of the EG Ronda Licensing Round to April 28.
This will give interested parties more time to evaluate the government’s offer.
H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons, said: “We can see that the industry as a whole is turning the corner and that the appetite for exploration is greater starting 2017 than it was last year.
“There is more stability and predictability in the market right now, which we can see is increasing investor confidence.”
The government will announce the successful bidders on June 5 at the Africa Oil & Power conference in Cape Town. The Ministry anticipates signing new production-sharing contracts on Sept. 15, and the agreements should be ratified by year-end.
Equatorial Guinea has been seeking to attract more international companies to further explore its offshore territory. Last month, the country announced its interest in joining OPEC, based on its track record of supplying oil and gas to global consumers.