XOM » Topics » Equatorial Guinea

This excerpt taken from the XOM 10-K filed Feb 26, 2010.

Equatorial Guinea

 

Exploration and production activities are governed by production sharing contracts negotiated with the State Ministry of Mines, Industry and Energy. The exploration periods are for ten to 15 years with limited relinquishments in the absence of commercial discoveries. The production period for crude oil is 30 years while the production period for gas is 50 years. A new Hydrocarbons Law was enacted in November 2006. Under the new law, the exploration terms for new production sharing contracts are four to five years with a maximum of two one-year extensions, unless the Ministry agrees otherwise.

 

These excerpts taken from the XOM 10-K filed Feb 27, 2009.

Equatorial Guinea

 

Exploration and production activities are governed by production sharing contracts negotiated with the State Ministry of Mines, Industry and Energy. The exploration periods are for ten to 15 years with limited relinquishments in the absence of commercial discoveries. The production period for crude oil is 30 years while the production period for gas is 50 years. A new Hydrocarbons Law was enacted in November 2006. Under the new law, the exploration terms for new production sharing contracts are four to five years with a maximum of two one-year extensions, unless the Ministry agrees otherwise.

 

Equatorial Guinea

 

ExxonMobil’s acreage totaled 0.2 million net offshore acres at year-end 2008.

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These excerpts taken from the XOM 10-K filed Feb 28, 2008.

Equatorial Guinea

 

STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%">Exploration and production activities are governed by production sharing contracts negotiated with the State Ministry of Mines, Industry and Energy. The
exploration periods are for ten to 15 years with limited relinquishments in the absence of commercial discoveries. The production period for crude oil is 30 years while the production period for gas is 50 years. A new Hydrocarbons Law was enacted in
November 2006. Under the new law, the exploration terms for new production sharing contracts are expected to be four to five years with a maximum of two one-year extensions, unless the Ministry agrees otherwise.

STYLE="margin-top:0px;margin-bottom:0px"> 


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Index to Financial Statements


Equatorial Guinea

 

ExxonMobil’s acreage totaled 0.2 million net offshore acres at year-end 2007, with 4.9 net exploration and development wells completed during the year.

 

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Table of Contents
Index to Financial Statements
This excerpt taken from the XOM 10-K filed Feb 28, 2007.

Equatorial Guinea

 

ExxonMobil’s acreage totaled 0.3 million net offshore acres at year-end 2006, with 8.3 net development wells completed during the year.

 

This excerpt taken from the XOM 10-K filed Feb 28, 2006.

Equatorial Guinea

 

ExxonMobil’s acreage totaled 0.4 million net offshore acres at year-end 2005, with 4.5 net development wells completed during the year.

 

This excerpt taken from the XOM 10-K filed Feb 28, 2005.

Equatorial Guinea

 

ExxonMobil’s acreage totaled 0.5 million net offshore acres at year-end 2004, with 6.1 net development wells completed during the year.

 

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