Spanish oil and gas company Repsol has received rights to conduct further tests on exploration block C-1 off Equatorial Guinea until 2010, it has been annnounced.
The company made a provisional hydrocarbon discovery in block C, off the coast of the capital of Equatorial Guinea, Malabo in 2007 and will perform additional tests in the 689-square-kilometre block in the coming 18 months.
"We have been given the status of operator of the exploratory consortium with about a 57% stake. GE Petrol has the rest," a Repsol spokesman said.
GE Petrol is the state oil company of Equatorial Guinea.
By staff writer.