Equatorial Guinea is offering offshore acreage for license, including a 300 sq km tract holding Alba gas/condensate field,
The field, with estimated reserves of 1.3 tcf of gas and 68 million bbl of condensate, is a 1984 discovery by Repsol SA of Spain, which recently relinquished the area after failing to find a gas market.
Alba lies close to the border with Nigeria and Cameroon and is 22 miles north of Bioco Island.
Applicants have until mid-June to submit proposals for the Alba acreage to Equatorial Guinea's Ministry of Mines and Hydrocarbons.
Petroconsultants SA, Geneva, adviser to Equatorial Guinea, said the government reserves the right to start negotiations with companies as their proposals are received.
Three wells have been drilled in Alba field, which lies in 242 ft of water and within reach of jack up production technology. The field's sandstone reservoirs are in Miocene Isongo at 8,528-9,840 ft.
Petroconsultants reports there are several undrilled, seismically defined traps under the Alba block.
Petroconsultants has recommended that Alba gas be exported to nearby fields off Cameroon for gas lift operations. Alba is only 12-1/2 miles from Victoria field off Cameroon.
Weather in the area is stable with no heavy seas. Seabed conditions are good for anchoring and pipelaying.
Equatorial Guinea has no history of oil production. Investment in infrastructure that might serve the petroleum industry has been minimal. The nearest supply bases are in Port Gentil, Gabon, and Douala, Cameroon. Malabo, the capital of Equatorial Guinea, has good facilities for offices.
Technical information about Alba and the rest of the offshore acreage on offer is available from Petroconsultants in Geneva and Seistex in Houston.
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