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Equatorial Guinea secures $2.4 bln of US investment

Equatorial Guinea has secured $2.4 billion of new investment from United States-based companies and plans to drill 11 wells from next year
By Staff reporter 5 November 2018 Middle East & Africa / Companies & Finance 0 33168

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. 

The $2.4...