18-06-08 ExxonMobil may be fined at least $ 300 mm by Equatorial Guinea for flaring gas at its Zafiro field, according to the country's Deputy Energy Minister Gabriel Nguema Lima.
The West African nation wants to use the gas at the field, located in the Gulf of Guinea, for a liquefied natural gas production unit proposed by Equatorial Guinea LNG Holdings.

The field, which produces 210,000 barrels of crude oil a day, accounts for 175 mm cf, or 78 %, of the 224 mm cf of gas flared in the country daily. The government plans to slash gas flaring to 10 mm cfpd by 2013.
Equatorial Guinea LNG is owned by state gas company Songas, Marathon Oil, Mitsui & Co. and Marubeni.