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UPDATE 1-Equatorial Guinea signs contract with Kosmos Energy for offshore blocks
October 23, 2017 / 8:39 AM / a month ago

UPDATE 1-Equatorial Guinea signs contract with Kosmos Energy for offshore blocks

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CAPE TOWN, Oct 23 (Reuters) - Equatorial Guinea has signed three new production-sharing contracts with Kosmos Energy for offshore blocks, the first such contracts for Kosmos in the West African country, the ministry of mines and hydrocarbons said on Monday.

In June Equatorial Guinea, Sub-Saharan Africa’s third largest oil producer, signed a similar contract for offshore block EG-11 with U.S. oil major ExxonMobil at the conclusion of its 2016 licensing round.

“We look forward to working with Kosmos as we continue to push the boundaries in oil and gas exploration,” Gabriel Obiang Lima, the minister of mines and hydrocarbons, said in a statement.

Obiang Lima said block EG-21 was offered for tender during last year’s licensing round, while block S and block W, previously operated by China’s CNOOC and PanAtlantic Energy respectively, were negotiated directly with Kosmos.

In each of the three blocks, Kosmos will hold an 80 percent stake and national oil firm GEPetrol the remaining minority. (Reporting by Wendell Roelf; Editing by James Macharia)

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