GEPetrol is the national oil company of Equatorial Guinea. The company was founded in 2002 after the writing of a presidential decree. The company reports to the Ministry of Mines, Industry and Energy. GEPetrol's director is Teresa Isabel Nnang Avomo.[1] The company maintains its office in Malabo.
In October 2017, Kosmos Energy signed three production-sharing contracts with Equatorial Guinea for the EG-21, S, and W offshore blocks.[2][3] Under the contract, Kosmos will hold an 80% stake in each block, while a national GEPetrol will hold the remaining stake.[2][4]
In September 2018, two former oil executives from SBM Offshore were sentenced to prison and fined for involvement in an international bribery scheme involving officials from GEPetrol and a number of other state-owned oil companies.[5]
- ^ "Equatorial Guinea's energy ministry and GEPetrol make key changes". Oil & Gas Financial Journal. 29 June 2015. Retrieved 11 November 2017.
- ^ a b Roelf, Wendell (23 October 2017). "Equatorial Guinea signs contract with Kosmos Energy for offshore blocks". Reuters. Retrieved 7 November 2017.
- ^ "Kosmos Energy picks up assets in Equatorial Guinea as Hess exits". World Oil. 23 October 2017. Retrieved 7 November 2017.
- ^ Kool, Tom (24 October 2017). "Oil prices rise ahead of inventory data". OilPrice.com. Retrieved 7 November 2017.
- ^ "Oil Services CEO and Executive Sentenced to Prison for Roles in Foreign Bribery Scheme". www.justice.gov. 2018-09-28. Retrieved 2019-12-01.