Marathon Oil, EG LNG, and the Ministry of Mines and Hydrocarbons of Equatorial Guinea have awarded British company Gas Strategies a contract for the development of a gas master plan
The work is part of the development of Equatorial Guinea’s Gas Mega Hub, for which Definitive Agreements towards the monetisation of the Alen unit were signed in April 2019.
The offshore gas mega hub aims to pool stranded gas across the Gulf of Guinea through the maximisation of existing infrastructure at Punta Europa.
“With key initiatives such as LNG2Africa, the ongoing offshore Gas Mega Hub and the Year of Investment 2020, we are going to complete key gas projects in upstream, midstream and downstream that will further diversify our economy, provide opportunities for our local companies, and create jobs for our citizens,” the minister added.
Under the development, Punta Europa is set to become a gas processing centre for all stranded gas fields in the Gulf of Guinea, and could open up economical avenues to monetise offshore gas in Cameroon and Nigeria as well.
Nexant to construct formaldehyde plant in Punta Europa
Equatorial Guinea has also awarded American company Nexant the feasibility study for the construction of a new formaldehyde production plant in Punta Europa
The Ministry of Mines and Hydrocarbons of Equatorial Guinea said the study should be ready by mid-June.
Gabriel Mbaga Obiang Lima, the minister of mines and hydrocarbons, said, “We are on track to deliver several projects under the Year of Investment 2020 following the award of the feasibility study for a 5,000 bpd modular refinery to VFuels last month, and the award of the feasibility study for the methanol-to-derivates plant this week.
“These are two landmark projects of the Year of Investment that will boost the local transformation of domestic oil and natural gas and create substantial jobs for the country,” he added.