Equatorial Guinea’s government is in talks with ExxonMobil about the future of the large Zafiro oil and gas field, with a decision expected in the third quarter that could see the state play a bigger role.

Located north of Bioko Island, Zafiro came online in 1996 and currently hosts multiple subsea wells, the Jade fixed platform, the Zafiro Producer floating production unit and the Serpentina floating production, storage and offloading vessel.