Equatorial Guinea is eyeing up the potential for new offshore oil and gas developments, in the wake of a recent win at the International Court of Justice (ICJ) on a long-running boarder dispute with Gabon. In May, the ICJ sided with Equatorial Guinea on its claim to three islands on its maritime boundary with Gabon.
Bracewell’s John Gilbert told African Energy the ICJ judgment did not set the maritime and land boundaries, which still have to be negotiated between the two countries.
“The key part of the judgment from the perspective of offshore oil and gas exploration supports Equatorial Guinea’s claim to sovereignty over the virtually uninhabited islands of Mbanié/Mbañe, Cocotiers/Cocoteros and Conga. This will assist Equatorial Guinea’s position in relation to the maritime boundary delimitation, which is relevant to Equatorial Guinea’s southernmost exploration blocks,” he said.
