Chevron and GEPetrol have entered into two production sharing contracts (PSCs) in Equatorial Guinea. The agreements between the companies involve the EG-06 and EG-11 offshore blocks, located near the operational Block B.
Block EG-11 has an area of approximately 1,240km². EG-06, meanwhile, covers the Acestruz-1 discovery made in 2017.
The block had been previously owned by ExxonMobil. Now under Chevron and GEPetrol, an exploration and production campaign should soon take place.
The African Energy Chamber (AEC) has affirmed that both blocks should resume offshore activities in Equatorial Guinea and reverse the decline in the country's oil production.
For more information on upstream projects in Africa, please visit EICDataStream.