Petrofac Limited

Petrofac supporting the National Oil Company of Equatorial Guinea - Seite 2

 

“Africa is a key focus for our Asset Solutions business and we are pleased to build on our operations in Ivory Coast, Ghana and Senegal and Mauritania with this opportunity in Equatorial Guinea.”

 

Antonio Oburu Ondo, Equatorial Guinea’s Minister of Mines and Hydrocarbons added: “Our vision is to create a fully capable nationally-operated oil and gas company to manage our assets. Today, I am proud that our vision is becoming a reality.

 

“We will grow our economy through diverse partnerships and investment in our people. Combining our strong indigenous capabilities, with Petrofac’s global expertise and experience, we will deliver significant value for our country.”

 

Teresa Isabel Nnang Avomo, Director General of GEPetrol commented: “Today’s contract signing marks a key milestone in our journey to becoming Operator of Block B on 1 June 2024.

 

“We are excited to grow our partnership with Petrofac. By unlocking the huge potential of our indigenous national workforce, we will build with Petrofac’s assistance, an organisation for the long-term management and development of our country’s oil and gas assets.” 

 

For the latest update on Petrofac’s review of strategic and financial options, please refer to the Group’s announcement dated 12 April 2024.

 

NOTES

 

1. The effectiveness of the contract is subject to the satisfaction to a number of conditions precedent, including in relation to the completion of transition arrangements with MEGI and Governmental and legislative approvals in Equatorial Guinea. Petrofac expects to make a further announcement when these have been fulfilled, at which point this contract will be added to the Asset Solutions backlog. No performance guarantees are required to be posted in relation to this contract.