OPEC appointed Obiang Lima president for 2023. He is also the head of the Gas Exporting Countries Forum (GECF). For now, he continues to hold both those positions.
Gabriel Mbaga Obiang Lima
“Production is not at the level we would like. We intend to own the asset and we need a new plan of development, which will take different things into consideration,” he said. Many wells need to undergo workovers, he said, in order to make it fit for the long term.
“Right now, we have close to 64 wells that need to be redrilled, and for this, we cannot find funds. A lot of infrastructure has been designed for a specific period and without funds, we are left with a lot of problems.”
Equatorial Guinea and Congo Kinshasa have signed an agreement to work together, including in the construction of a joint-owned refinery and a controversial licence round.
Senegal will join the Gas Exporting Countries Forum (GECF) today as an observer, before graduating to full membership next year with the start of LNG exports.
African ministers have put the case forward for gas, both as an export commodity and a domestic enabler, with an eye on the upcoming COP27.
Iraq’s SOMO has endorsed Saudi Arabia’s take on the oil market’s situation, expressing concerns around “false signals” for the market.
Egyptian companies have struck deals to carry out work in Equatorial Guinea, according to recent high-level talks.
Nigeria has signed a memorandum of understanding on processing gas for export at facilities in Equatorial Guinea.
Chevron has signed up to explore a block offshore Equatorial Guinea, previously held by South Africa’s PetroSA.
In a resounding defence of the African gas industry, Equatorial Guinea’s minister of energy has set out a number of plans including the resumption of work on an abandoned floating LNG (FLNG) project.
Equatorial Guinea has forbidden unvaccinated people from working on- or offshore in the oil and gas sector.
The new US administration is keen to claim its role in new African markets, while also working on efforts to tackle climate change.
Chevron has reached first gas its Alen gas project, in Equatorial Guinea.
The Nigerian military has committed to providing “maximum security” for the country’s oil and gas assets.
Accusations that Equatorial Guinea Minister of Mines and Hydrocarbons Gabriel Mbaga Obiang Lima benefited unduly from a construction contract are false, said Centurion Law Group.
Equatorial Guinea expects foreign direct investment in 2021 could reach $1.11 billion, according to the energy ministry, while production is expected to increase.
Russia’s state-owned Rosgeo has completed its first phase of work in Equatorial Guinea’s Rio Muni region.
Equatorial Guinea has awarded Nexant the feasibility study on a new formaldehyde plant at Punta Europa and work to develop a Gas Master Plan to Gas Strategies.
Equatorial Guinea has granted oil and gas companies a two-year extension for exploration work, the Ministry of Mines and Hydrocarbons has said.
Equatorial Guinea recorded 30 cases of coronavirus at ExxonMobil's Serpentina floating production, storage and offloading (FPSO) facility over the weekend.
Equatorial Guinea has awarded a feasibility study on a proposed modular refinery, in Punta Europa, to VFuels Oil & Gas Engineering.
Equatorial Guinea intends to make its petroleum sector more attractive by modifying regulations.
Equatorial Guinea has taken the decision to postpone its Africa Oil & Investment Forum (AOIF) and exhibition, which had been due to take place on June 1, in light of the coronavirus outbreak.
Marathon Oil has stepped up its plans for Equatorial Guinea, targeting the delivery of first gas from the Alen backfill project by the end of 2020.