Equatorial Guinea’s Ministry of Mines and Hydrocarbons Completes Feasibility Study for the Punta Europa Refinery
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As part of the Equatorial Guinea Year of Investment 2020 initiative, Equatorial Guinea’s Ministry of Mines and Hydrocarbons successfully concluded the feasibility study of the Punta Europa Modular Refinery, which was commissioned to V-Fuels Oil and Gas Engineering.
The objective of the Punta Europa Modular Refinery project is to avoid stock breaks, reduce dependence on the import of refined products and avoid the depletion of the State’s foreign exchange reserves. The refinery will use condensate from the Alba and Alen fields as feed, with Marathon as the technical operator of the refinery.
Based on the schedule established for the project, the Ministry expects to finalize the Heads of Agreement negotiation by the end of this year, and to take the final investment decision in the first quarter of 2021.