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Equatorial Guinea to Add 20,000 bpd of Oil Production this Year

Source: www.gulfoilandgas.com 1/12/2020, Location: Africa

Equatorial Guinea will add 20,000 barrels per day (bpd) of oil production by October because of the new discoveries. Equatorial Guinea, a member of the Organization of the Petroleum Exporting Countries (OPEC), currently produces 120,000 bpd. Plans for new energy projects worth $1 billion, including the two refineries, were announced in November. Construction of the two refineries, which are expected to process up to 40,000 bpd of crude oil, is expected to start by the end of the year. Equatorial Guinea will also probably announce a new bidding round for several exploration blocks in April.

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