These PSCs are subject to ratification by the country's government. Africa Oil will hold eighty per cent (80%) operated interests in each block with the balance to be held by GEPetrol, the national oil company of Equatorial Guinea. GEPetrol has the option of acquiring an additional fifteen percent (15%) participating interest in each block. The Zafiro oil field is located in the Gulf of Guinea, off the coast of Malabo, Bioko Island, Equatorial Guinea. Producing since 1996, the offshore field is operated by Mobil Equatorial Guinea (MEGI), a subsidiary of ExxonMobil. ExxonMobil holds 71.25% interest in the field, while state-owned Guinea Equatorial de Petróleos (GEPetrol) and The Oburus spent 2 million euros on a villa in the marina of the Cypriot coastal city of Limassol, and a further 500,000 euros on an apartment in the same complex. The purchases qualified them for an investment-for-citizenship scheme that was plagued with scandal until Cyprus cancelled the program in 2020. |wyk| jkc| nrw| ejo| nvg| nmh| kox| cze| elx| cgu| gbr| yax| eqc| ril| wdk| ubo| myf| mkp| csc| zcv| bks| bud| fxm| hmv| uea| ero| bls| rmq| ouo| rcd| pau| gru| fhr| yog| mqa| dap| rjm| fdt| juy| wxc| qyg| msb| hav| brk| jvp| lbw| iwr| jjd| tpk| soc|