ExxonMobil Corp. wholly owned affiliate Exploration & Production Equatorial Guinea (Deepwater) Ltd. has signed a production-sharing contract with the government of Equatorial Guinea for the 307,000-acre EG-11 deepwater block 36 miles west of Malabo.
Following ratification of the contract by the government, ExxonMobil will carry out the EG-11 work program as operator with 80% interest. Equatorial Guinea’s national oil company GEPetrol will hold the remaining 20%. The contract includes a commitment to acquire new and reprocess existing 3D seismic data.
EG-11 is adjacent to Zafiro field on the 547,000-acre Block B, where ExxonMobil recently extended its contract for the 110,000-b/d Serpentina floating production, storage, and offloading vessel (OGJ Online, May 12, 2017). The field is in 400-2,800 ft of water and has produced more than 1 billion bbl in its more than 20 years of production.
Mobil Equatorial Guinea Inc. operates Zafiro field with 71.25% interest, GEPetrol has 23.75%, and Equatorial Guinea has 5%. ExxonMobil Exploration & Production Equatorial Guinea (Offshore) also holds 80% interest in Block EG-06, which is also adjacent to EG-11.