Equatorial Guinea to Sign Contrats with 2006 bid round winners

Equatorial Guinea to Sign Contracts with 2006 Bid Round Winners

09-26-2007

Equatorial Guinea's Ministry of Mines, Industry and Energy has reviewed the bids received for the 2006 Licensing Round which closed on July 18, 2007 and announces that the following companies have been invited to negotiate Production Sharing Contracts (PSCs) for the following blocks:

Ophir Energy Company – Block EG-1 and Block EG-3

Glencore Exploration (EG) Limited / Starc Limited – Block EG-7

AFEX Global – Block EG-9

ONGC Videsh Limited – Block EG-12 and Block EG-13

Nigeria National Petroleum Corporation / AFEX Global – Block EG-14

The award of these blocks is subject to the successful conclusion of Production Sharing Contract negotiations and the ratification of the Production Sharing Contracts by the Government of Equatorial Guinea. PSC negotiations will commence on dates to be advised to the respective companies by the National Oil Company of Equatorial Guinea, GEPetrol.