Equatorial Guinea has secured $2.4 billion of new investment from United States-based companies and plans to drill 11 wells from next year, a local oil ministry source has told Reuters.
News of the extra spending follows Petroleum Minister Gabriel Obiang Lima’s warning in September that extensions to existing licences would be refused unless the companies involved collectively committed to invest $2 billion in the country.
Companies with investments in Equatorial Guinea include ExxonMobil, Kosmos Energy, Marathon Oil and Noble Energy.
Great choice of article...
but you need a subscription for full access.
Stay informed with exclusive, accurate and up-to-date energy news, analysis and intelligence. Sign up for 7-day trial access to this and more premium content. It's free!
Get a free trial
Already a subscriber? Sign in