Page 13 - AfrOil Week 48 2022

AfrOil PROJECTS & COMPANIES AfrOil

The Sangomar block encompasses three sepa- barrels of crude oil and 160mn boe of natural
rate fields – Rufisque, Sangomar Offshore and gas.
Sangomar Deep Offshore. Equity in the project is split 82% to Woodside
Oil was discovered there in 2014, and and 18% to Petrosen, the national oil company
Woodside estimates that the offshore licence (NOC) of Senegal. The partners are about 70%
area contains 645mn barrels of oil equivalent finished with preparations for first-phase devel-
(boe) in recoverable reserves, including 485mn opment work at the Sangomar block. ™

Malabo and Kinshasa agree to

develop jointly-owned refinery

EQ. GUINEA/D.R. CONGO EQUATORIAL Guinea and the Democratic “Cross-border cooperation is one of the key
Republic of the Congo (DRC) have signed a tenets of Equatorial Guinea’s energy develop-
Memorandum of Understanding (MoU) that ment strategy, as we aim to increase the availa-
will see the two countries work together to bility of affordable and accessible energy in our
develop an oil refinery and petroleum product country and across the region,” he said. ™
storage facilities.
The MoU was formalised at the Angola
Oil and Gas 2022 Conference and Exhibition,
signed by representatives of the Equatorial
Guinea Ministry of Mines and Hydrocarbon
and the DRC Ministry of Hydrocarbons.
The two countries plan to team up to achieve
their shared energy objectives, which include
the construction of an oil refinery in the DRC,
along with storage facilities for petroleum
refined products. Regardless of their physical
location, the facilities will be jointly owned by
the national oil companies (NOC) of Equatorial
Guinea and the DRC, GEPetrol and Sonahydroc
respectively.
The agreement also provides for the two
nations to share knowledge and technical
expertise.
According to Gabriel Mbaga Obiang Lima,
Equatorial Guinea’S Minister of Mines and
Hydrocarbons, the MoU supports the country’s
“national mandate to facilitate the production Equatorial Guinea’s Minister of Mines and Hydrocarbons Gabriel Mbaga Obiang
and trade of African petroleum products and Lima (L) and the DRC’s Minister of Hydrocarbons Didier Budimbu Ntubuanga
create value-added industries.” (R), shown in Luanda on November 29 (Photo: Energy Capital & Power)

ExxonMobil said to be gearing up

for exit from Equatorial Guinea

EQUATORIAL GUINEA THE US super-major ExxonMobil has started According to the sources, the US giant is
ramping down oil production at Block B, located motivated partly by an industry-wide push to
offshore Equatorial Guinea, and aims to exit the swap out ageing assets in West Africa for frontier
country once its licence for the site expires in African initiatives that have lower greenhouse
2026, two sources close to the matter informed gas (GHG) emissions intensity, such as deepwa-
Reuters on November 28. ter drilling offshore Namibia.

Week 48 01•December•2022 www. NEWSBASE .com P13