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EQUATORIAL GUINEA’S DEEP OFFSHORE STORY

NOT AN OFFICIAL UNCTAD RECORD. EQUATORIAL GUINEA’S DEEP OFFSHORE STORY. Jose-Luis Alfaro Musa Director of Marketing GEPETROL. Equatorial Guinea Bathymetry. WELLS DRILLED pre-1992. Drilling by major oil companies from 1967 within the 200m isobath found only the

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EQUATORIAL GUINEA’S DEEP OFFSHORE STORY

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  1. NOT AN OFFICIAL UNCTAD RECORD EQUATORIAL GUINEA’S DEEP OFFSHORE STORY Jose-Luis Alfaro Musa Director of Marketing GEPETROL

  2. Equatorial Guinea Bathymetry

  3. WELLS DRILLED pre-1992 Drilling by major oil companies from 1967 within the 200m isobath found only the Alba condensate discovery which was deemed non-commercial. 13 wells in Niger Delta 6 wells in Rio Muni 200m water Operators in this period were: Hispanoil Elf Total Chevron Mobil Gulf Alba was relicensed in 1990 to US independent Walter International

  4. LICENSING SITUATION 1997 Alba in production by Walter BlocksA,B,C,D licensed to United Meridian Corp. Mobil farm-in to Block B Zafiro discovery, fast-track development In 1997, Triton licensed Blocks F&G in the Rio Muni Basin, which was then totally unlicensed.

  5. 1,000m water WELLS DRILLED to 2004 Exploration extended westwards along the Niger Delta Deformational Front and beyond the 1,000m isobath. Ceiba Field discovered 1999. Exploration along and inboard of the Ceiba Trend More wells in 2004 and 2005 extending north and south. 2,000m water

  6. Resources for the future….. through systematic SEISMIC INVESTIGATIONS The latest GESeis 3D survey First 3D survey in 1996 around Zafiro Field. All areas coloured RED now covered by 3D seismic, around 20,000sq. kms.. The State acquires 3D seismic on unlicensed areas through GESeis, its JV seismic contractor.

  7. Pioneering Deepwater development with FPSO’s Zafiro Producer FPSO Serpentina FPSO Sendje Ceiba FPSO

  8. PRODUCTION SITUATION 2004 ALBA FIELD 800mmcfd, April 2004 ZAFIRO FIELD 300,000bopd 200mmcfd NBG DEVELOPMENT 60,000bopd, 2006 CEIBA FIELD 30,000bopd 20mmcfd

  9. Annual Oil Production Growth

  10. Production >3000 tonnes/day Sells for over $200 per tonne 3 dedicated tankers to Europe and N.America. 3% of world supply Ampco Methanol Plant

  11. LNG Philosophy

  12. Sale of the State’s share of crude oil Zafiro Topacio Ceiba Alba Oil service joint ventures GESeis Luba Freeport Commercial joint ventures Sonagesa Downstream joint ventures EG LNG Co GEPetrol as economic catalyst

  13. State investment in infrastructure….. New Bata-Mongomo Road New Malabo Air Terminal

  14. New buildings in Bata

  15. New buildings in Malabo

  16. Thank you for your attention… “deepwater success for long-term development”

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