Page 14 - AfrOil Week 19 2020

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PROJECTS & COMPANIES
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EQUATORIAL GUINEA
TWO state-controlled Russian companies have agreed to conduct an onshore exploration pro- ject in Equatorial Guinea.
Under a contract with Equatorial Guin- ea’s Ministry of Mining and Hydrocarbons (MMH), the companies – Yuzhmorgeologiya and Zarubezhgeologiya, both of which are sub- sidiaries of Rosgeologiya – will be responsible for the first stage of seismic research and state mapping operations in the Rio Muni Basin. “Zarubezhgeologiya will conduct the reconnais- sance work necessary for further state mapping activities, and Yuzhmorgeologiya will carry out reconnaissance for complex seismic studies in the Rio Muni transit zone,” MMH explained in a statement on May 12.
The contracts lay out the parameters of each company’s assignment, the ministry said. They define the extent of drilling operations, spell out the possibilities for sampling, outline the condi- tions for the main part of exploration work and
analyse technical capabilities for assessing the geology of the Rio Muni Basin, as well as lay-
ing a foundation for work on the next stage of exploration. 
Rosgeologiya chief Sergei Gorkov at the Russia-Africa Forum (Photo: Roscongress)

The Energy Ministry’s decision drew praise from the African Energy Chamber (AEC), which commented that unitisation might mark the dawn of “a new era for Ghana’s upstream sector.”
The chamber noted in a statement dated May 8 that the proposed tie-up would be the first of its kind between a native African operator and a major international oil company (IOC).
Eni’s Sankofa field lies within Offshore Cape Three Points (OCTP), a licence area that is believed to hold about 500mn barrels of oil and
40bn cubic metres of gas.
Equity in the block is split between Eni
(operator), with 44.44%; Vitol (Switzerland), with 35.56%; and Ghana National Petroleum Corp. (GNPC), with 20%.
Springfield’s Afina field lies within the West Cape Three Points-2 (WCTP-2) licence area, which appears to hold around 1.5bn barrels of oil and 19.8 bcm of gas.
The Ghanaian field has an 84% stake in the block, and its partners are GNPC and its explo- ration arm EXPLORCO. ™
WCTP-2 and OCTP are adjacent blocks (Image: Ghana Petroleum Commission)
Rosgeologiya subsidiaries to carry out exploration contract in Equatorial Guinea
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w w w . N E W S B A S E . c o m Week 19 13•May•2020