Give continental rivals, Angola, Nigeria run for money
By Nsikan Ikpe
In a critical affirmation of its growing importance as a leading continental oil producing hub, a United States, US oil exploration company has joined in the ongoing road being undertaken by the Spanish-speaking African nation, The Difference has learnt.
The country which struck oil in 1995 has now attracted support for its current roadshow from the world-famous PanAtlantic Exploration which has now joined in the EG Ronda 2016 Roadshow to promote blocks with the Equatorial Guinea Government. Another notable oil producer in the country is Marathon Petroleum.
The US-based Pan Atlantic Exploration says it will promote exploration opportunities in Equatorial Guinea alongside the government at global roadshow events. PanAtlantic had entered Equatorial Guinea’s Block K in 2010 and is now exploring a total of three license areas in the country as operator.
An American independent, members of the PanAtlantic management team will be in attendance at upcoming events lending their considerable expertise on exploring Equatorial Guinea’s offshore licenses.
Indeed, observers say that PanAtlantic brings extensive geotechnical and operational knowledge of Equatorial Guinea’s hydrocarbon basins and will provide a valuable perspective on the production sharing contract regime and investment landscape.
“President and COO Mr. H. Daniel Hogan states that: “The Equatorial Guinea Ronda 2016 provides a unique entry opportunity into an underexplored yet highly prospective portion of the Transform Margin, where multiple large oil and gas fields are already in production. PanAtlantic is honored to assist in presenting this opportunity to the oil and gas industry and our focus will be to highlight the key aspects of the petroleum system which will certainly drive future exploration success.””
Houston-based PanAtlantic is operating more than 9,200 square kilometers in the highly prospective Transform Margin of West Africa. It holds three exploration licenses in Equatorial Guinea – Block W, Block K Corisco Deep and Block 02.
“We are delighted that PanAtlantic will be joining us for this historic licensing round,” said H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea. “Their first-class industry and technical knowledge will be an enormous assets in communicating the advantages of investing in Equatorial Guinea and the exciting exploration opportunities that are still available.””
EG Ronda 2016 launched on June 6, 2016 at the Africa Oil & Power conference and will conclude on November 30, 2016.
Watchers say the current move by Equatorial Guinea is putting pressure on continental rivals, Angola and Nigeria to up their game, notably in the exploration arena