Equatorial Guinea's state-owned oil firm, GEPetrol, has gained operator status for Block B, following a deal with Exxon Mobil in 2023, which will take effect from June 2024. Petrofac, a key player in oilfield services, has just signed a $350 million, five-year contract with GEPetrol.

The agreement focuses on providing technical expertise for managing Block B, which hosts the prolific Zafiro field, which produces approximately 90,000 barrels daily. Petrofac's role will include operations management, maintenance, ensuring asset integrity, providing marine support, well engineering, project execution, and optimizing supply chain management—critical components that enhance operational efficiency and productivity.

In addition to onshore support, Petrofac will oversee the deployment of a floating production storage and offloading unit, with strategic operations partially directed from its Aberdeen base. This partnership is expected to equip GEPetrol with essential skills to expand its operator role across the country in the upcoming years.

Teresa Isabel Nnang Avomo, CEO of GEPetrol, expressed enthusiasm about the collaboration, emphasizing the utilization of the national workforce to ensure sustainable development of the country's oil and gas resources.

With an investment of $3 billion allocated for enhancing the oil and gas potential of Block B, Equatorial Guinea is set to make substantial advancements in its energy sector, driven by this strategic collaboration between Petrofac and GEPetrol.