GEPetrol

GEPetrol was established as the National Oil Company of the Republic of Equatorial Guinea by Presidential Decree in February 2001, and became operational in 2002. The company has quickly moved to perform its new duties: GEPetrol manages the state’s participation as a shareholder and other rights and obligations derived from the CPP (PSCs) signed before its creation. GEPetrol acts as agents for the sales of the State’s share of hydrocarbons. GEPetrol is responsible for the promotion of open acreage within Equatorial Guinea. GEPetrol may participate, either solely or as a partner with other national or foreign companies, in exploration and production activities either within Equatorial Guinea or abroad.

In the upstream area, GEPetrol manages the State’s participation in the Petroleum Contracts, markets the State’s share of production and participates in oil service activities. In the downstream area, GEPetrol is a partner in the Equatorial Guinea LNG Company and in other ventures. GEPetrol also participates in general commercial ventures that enhance the economic development of Equatorial Guinea.