LogIn LogOut

New Pipeline Coming Offshore Equatorial Guinea

April 1, 2019

(Photo: Noble Energy)
(Photo: Noble Energy)

Noble Energy and partners will build a pipeline linking Equatorial Guinea's offshore gas fields to an onshore liquefied natural gas (LNG) plant to boost exports, the African nation's government said on Monday.

Under a deal with the government the 70 km (44 miles) pipe will have capacity for 950 million cubic feet of gas per day from fields operated by Noble and will be ready in the first quarter of 2021.

Once liquefied at the export plant, which is run by Marathon Oil, the gas will be shipped to markets across the globe.

Sonagas GE, the state-run gas company, will increase its stake in the project to 30 percent from 25 percent.

The gas will come from a joint venture called the Alen Unit, located in two offshore blocks, and is expected to contribute between $1.5 billion and $2 billion to state revenues over the course of the project, the goThe gas will come from a

joint venture called the Alen Unit, located in two offshore blocks, and is expected to contribute between $1.5 billion and $2 billion to state revenues over the course of the project, the government statement said.

Equatorial Guinea hopes to create a gas export hub from its offshore fields after revenues were hit by a dip in oil prices and production since 2014.


(Reporting by Edward McAllister Editing by David Goodman)



Current News

Polarcus Scores Seismic Job in Malaysia

Polarcus Scores Seismic Job in Malaysia

DOF Subsea Bags APAC Contracts

DOF Subsea Bags APAC Contracts

Sarawak Seeks to Recoup Tax from Petronas

Sarawak Seeks to Recoup Tax from Petronas

Thunder Cranes Wins Chevron Contract

Thunder Cranes Wins Chevron Contract

KMG, Tatneft Outline Cooperation Roadmap

KMG, Tatneft Outline Cooperation Roadmap

China to Cut Renewable Power Subsidy

China to Cut Renewable Power Subsidy

CNPC Inks Two Cooperation Deals in Kazakhstan

CNPC Inks Two Cooperation Deals in Kazakhstan

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week