Repsol Wins Extension For Drilling Rights Offshore Equatorial Guinea

21 May 2009 (Last Updated May 21st, 2009 18:30)

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

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.