Africa Oil said the block contains a number of gas-prone prospects in water depths of less than 80 metres. Crucially, it is close to existing infrastructure, including the Alba gas field and the Punta Europa LNG plant.
Perenco has signed a deal to buy the Etinde stake held by New Age (African Global Energy) for an undisclosed amount, junior partner in the project Bowleven has said.
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.
Vitol has signed up to a strategic partnership and co-operation agreement with Equatorial Guinea’s Ministry of Mines and Hydrocarbons, focused on the proposed gas megahub plan.
