The Ministry of Mines, Industry and Energy of Equatorial Guinea is pleased to announce the Ratification of Production Sharing Contract for Block EG-06 by the government of Equatorial Guinea. The contract was signed on January 16, 2015 between ExxonMobil Exploration and Production Equatorial Guinea (Offshore) Limited, GEPetrol and the Government of the Republic of Equatorial Guinea, represented by the Ministry of Mines, Industry and Energy.
Block EG-06 is located offshore Bioko Island, immediately north of Block R (operated by Ophir Energy) and adjacent to the international border with Nigeria. Block EG-06 is composed of the areas previously known as D-8, D-9, a portion of C-10, a portion of C-11, B-10, and a portion of B-11.
US energy giant ExxonMobil has been active in Equatorial Guinea since 1995 as operator of offshore Block B, near Bioko Island. ExxonMobil holds a participating interest of 71.25 percent, GEPetrol has 23.75 percent and the Equatorial Guinea government holds the remaining 5 percent. The accumulated oil production of the Zafiro Field recently exceeded 1 billion barrels in December of 2014.