GEPetrol to develop Zafiro field offshore Equatorial Guinea

GEPetrol, Equatorial Guinea’s national oil company, initiated a multi-phase development plan for Zafiro field aimed at increasing production after taking over as operator following ExxonMobil Corp.'s exit.

Zafiro field lies on the 547,000-acre Block B in the Gulf of Guinea in about 500 m of water. GEPetrol's plan comprises three phases.

The first, to begin early 2025, includes reconnecting select wells that were previously connected to the Zafiro Producer floating production unit (FPU). The second phase, to be implemented along with the first, involves cost optimization work as well as the optimization of well exploitation and production. The third phase, to be implemented from 2025 onwards, will be the redevelopment of Zafiro field, plans for which are currently under discussion.

In April 2024, GEPetrol awarded a 5-year technical contract to Petrofac for work related to Block B. The $350-million contract covers services related to onshore support bases, an FPSO, and a platform at Zafiro field.

GEPetrol assumed operatorship of Block B from ExxonMobil this year following the expiration of the production sharing contract. The energy major said in February that it would exit Equatorial Guinea in this year's second-quarter upon the contract's expiration and return its interests to the local government.