- Equatorial Guinea plans to overhaul its Zafiro field and expects new gas developments.
- The minister, in his comment, noted there would be good news soon on Equatorial Guinea’s plans for a gas mega hub.
Equatorial Guinea sets to focus on gas plans to overhaul its Zafiro field and expects new gas developments. However, access to capital is an ongoing challenge as ExxonMobil is coming towards the end of its licence at Zafiro, which ran into technical challenges recently. Production is ongoing via the Serpentina and Jade facilities, while the floating production unit (FPU) is offline.
Production reached 12,000 barrels per day at the field last week, Minister Gabriel Mbaga Obiang Lima said at an event hosted by the African Energy Chamber (AEC). The plan to restore production involves reconnecting wells in February to increase the output gradually. He said, “Production is not at the level we would like. We intend to own the asset and need a new development plan considering different things. Many wells must undergo workovers to make them fit for the long term.”
The minister, in his comment, noted there would be good news soon on Equatorial Guinea’s plans for a gas mega hub. He said, “We may need a new FPSO and a new platform, but we also need to know how much funding we will require. We are talking with different operators, and they are helping us make that decision. The key will be to have the right operator to work with us. We have two additional fields, and we will have a deal very soon with Marathon Oil and Chevron to process more gas and export more LNG.”