Executive Summary
Equator Exploration Limite explores for and develops oil projects, primarily in the highly prospective waters of the Gulf of Guinea. Equator’s objective is to build a diversified portfolio of exploration, appraisal and production assets in the region. The Company will initially focus its efforts in West Africa, in particular the territorial waters of São Tomé and Príncipe where Equator has been active since 2001.
Equator is registered in the British Virgin Islands.
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Equator is currently focusing its efforts in the Gulf of Guinea and recently completed drilling its third well on OML 122 offshore Nigeria. The company has interests in deepwater blocks OML 122, OPL 323 and OPL 321 offshore Nigeria and Block 2 in the Nigeria - São Tomé and Príncipe Joint Development Zone. Equator also owns rights to acquire a 100% interest in two blocks of its choice in the territorial waters of São Tomé and Príncipe, and continues to evaluate other exploration opportunities in the region.
West Africa is one of the most prolific offshore deepwater exploration and production regions. Discoveries in the region include the Akpo field ( Nigeria) with estimated reserves of 800 million barrels, the Agbami field ( Nigeria) with estimated reserves of 710 million barrels, and the Zafiro field ( Equatorial Guinea) with estimated reserves of 1 billion barrels.[1]
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