American multinational oil and gas corporation ExxonMobil will exit Equatorial Guinea in the coming months, with plans to transfer its investments to the government in Q2, 2024.
The decision to withdraw from the country aligns with the company’s long-term strategy, ExxonMobil said in a statement, marking an end to almost three decades of operations.
“Our focus now is on a safe handover of operations and caring for all impacted by this change,” the company said.
Exxon Mobil’s primary asset, the Zafiro field, yielded over one billion barrels across two decades.
