Nigerian oil and gas exploration and production company, Atlas Oranto Petroleum is planning to inject nearly $350 million in Equatorial Guinea backfill project.
The company is making the investment to pool supply from stranded gas fields in Equatorial Guinea and the Gulf of Guinea and replace declining output from the Alba field.
Atlas Oranto Petroleum is making the investments along with its partners in Block O and I, Noble Energy, Marathon Oil, Glencore and Guvnor.
The company added that it will continue to infuse in gas monetization projects across the continent, including gas-to-power and the curbing of gas flaring.