Equatorial Guinea has announced plans to boost oil production as new projects at its Aseng and Ceiba fields make up for falling output at older fields.

S&P Global reports that Minister of Mines and Hydrocarbons Gabriel Obiang Lima expects an increase of 20 000 barrels per day (bpd) up from the current 120 000 bpd by October this year.

According to Reuters, meanwhile, new agreements surrounding two new modular oil refineries in the West Africa country will be announced in April as well as licensing rounds for up to five exploration blocks.

The ministry revealed plans for the two refineries totalling US$1 billion in November last year. Construction of the plants, which are expected to process up to 40 000 bpd of crude oil, are predicted to commence by year-end.

14 January 2020
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