A consortium consisting of Ocean Energy, Petronas, Atlas Petroleum and DNO has negotiated an agreement for participation in block P offshore Rio Muni in Equatorial Guinea. The agreement is pending the approval of the authorities in Equatorial Guinea, whereupon the respective interests of the various companies will be announced. Ocean Energy will become the operator of the licence.
Current production in Equatorial Guinea averages 180,000 barrels of oil per day.