Equatorial Guinea Hires Russian O&G Surveyor

Equatorial Guinea's mining and hydrocarbons ministry has signed contracts to hire two subsidiaries of Russia's state-owned Rosgeologia to conduct an exploration project in the country, the ministry said on May 12. Rosgeologia will be responsible for the first stage of seismic research and state mapping operations in the Rio Muni basin. 

"These explorations will help expand Rio Muni’s potential in new oil, natural gas and mineral deposits," mining and hydrocarbons minister Gabriel Mbaga Obiang Lima commented. "Co-operation with Rosgeologia corresponds to the general atmosphere of development of relations between the Russian Federation and the Republic of Equatorial Guinea and will help build a serious research base in our country."

The contracts build on a memorandum of understanding the ministry signed with Rosgeologia in October on conducting airborne geophysical research and 2D and 3D seismic surveys in transit and deep-water offshore zones. The Russian state surveyor took part in exploration work in Equatorial Guinea in the 1970s, but the country kick-started its oil and gas industry only in the late 1990s.

Russian oil company Lukoil in January signed a memorandum with the ministry to explore Equatorial Guinea's offshore Block EG-27, after winning a licensing round. Formerly licensed to UK Ophir, that block has the potential to host a floating LNG export project.