(Ecofin Agency) - Equatorial Guinea’s Ministry of Mines, Industry and Energy is to launch a new bidding round for all outstanding deep and ultra-deepwater blocks in 2016, following the success of its 2012 and 2014 bidding rounds.

Two operators; RoyalGate Energy and Brazil’s G3 Oleo e Gas have confirmed further exploration prospects in Equatorial Guinea in 2016. RoyalGate Energy is to drill Block Z and G3 Oleo e Gas will drill Block EG-01.

“In a sustained environment of low oil prices, Equatorial Guinea continues to be attractive for deepwater exploration. The start of two more exploration drilling campaigns in 2016 reinforces the fact that our contract terms are competitive and appealing to international explorers,” Minister of Mines, Industry and Energy H.E. Gabriel Mbaga Obiang Lima (photo) told Energy-pedia.