Base Production

We are engaged in oil and gas development and production activities in EG.

• We own a 63% operated working interest under a production sharing contract in the Alba field and an 80% operated working interest in Block D, both of which are offshore E.G.
• We own a 52% interest in Alba Plant LLC, accounted for as an equity method investment, which operates an onshore LPG processing plant located on Bioko Island. Alba field natural gas is processed by the LPG plant under a fixed-price long-term contract. The LPG plant extracts secondary condensate and LPG from the natural gas stream and uses some of the remaining dry natural gas in its operations.
• We also own 60% of EGHoldings and 45% of AMPCO, both accounted for as equity method investments. EGHoldings operates a 3.7 mmta LNG production facility and AMPCO operates a methanol plant, both located on Bioko Island. These facilities allow us to further monetize natural gas production from the Alba field.

With declining production of developed natural gas and associated liquids from the Alba Field, we continue to work with the Government of EG and our partners towards creation of a Gas Mega Hub for the region, with EG as the center, to process and liquefy gas from proximate fields in EG and neighboring countries.

Phase I of the Regional Gas Mega Hub started in early 2021 with the delivery of wet gas from the offshore Alen Field to the Punta Europa complex for processing and liquefaction. Phase II of the Regional Gas Mega Hub, which facilitates processing of Alba gas through EG LNG on new contractual terms, commenced in early 2024, and resulted in increased value for stakeholders.

The goal is to continue keeping the facilities operating at capacity by pursuing opportunities for future phases of development.