Policy & Regulation

Subsea 7 sanctioned by Equatorial Guinea government

Equatorial Guinea’s oil minister has ordered petroleum companies operating in the country to cease doing business with UK-based Subsea 7.
By Staff reporter 23 November 2018 0 33423

Equatorial Guinea’s oil minister, Gabriel Obiang Lima, has ordered petroleum companies operating in the country to cease doing business with UK-based Subsea 7 because of its reported failure to comply with local content rules, according to Reuters.

The order forms part of a wider crackdown on companies failing to employ enough local people instigated in 2014.

A similar injunction was brought against CHC Helicopter in July.

Other companies affected include Noble Energy, ExxonMobil and Marathon Oil.

A review of the sector is ongoing,...