Given the cold shoulder by the Equatorial Guinea authorities for the past year (AEI 467), the U.S. group ExxonMobil, which operated the leading producing field in the country, has been replaced by Spain's Repsol, the new ally of Malabo. Following Exxon's withdrawal alongside its South Korean partner SK from Block C, Malabo has awarded the acreage to Repsol which will act as the field's operator with a 57.38% holding. State-owned GEPetrol, which bought out the 24,44% held by Devon on block C last year, also gained from the operation as it now owns 42.62% of the block.
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