New oil well is found in Equatorial Guinea

The ostrich-1 well, discovered by ExxonMobil, was found in the African country Equatorial Guinea and according to information from the Minister of Mines and hydrocarbons, Gabriel Obiang Lima, is located 160 kilometers from the capital Malabo, adjacent to the well well Zafiro, one of the largest in the Country and already seeing it being exploited by the oil company.

In recession for about five years, and with a critical economic situation due to low oil, the discovery promotes more growth expectations for the region. The new well is now awaiting viability for exploration.

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