Equatorial Guinea Launches New Oil Licensing Round

Reuters

CAPE TOWN, June 6 (Reuters) - Equatorial Guinea officially launched its latest oil exploration licensing round, with onshore and offshore blocks available in one of Africa's top oil producers.

The round will close on Nov. 30, said Mercedes Milam, the director general of hydrocarbons, as the former Spanish colony looks to boost exploration amid globally low oil prices.

"The EG Ronda 2016 makes available all acreages not currently operated or under direct negotiation," the ministry said at a news conference later.

In total 37 blocks are available, 32 of them offshore and including Block A-12, newly relinquished by Marathon Oil .

"Also open is the former EG-05 block which was once operated by Glencore. EG-05 was then split into four prospective offshore licences which have never been drilled," the ministry said.

(Reporting by Wendell Roelf; Editing by Greg Mahlich)

Copyright 2016 Thomson Reuters. Click for Restrictions.

Copyright 2016 Thomson Reuters. Click for Restrictions.

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