By Chibisi Ohakah, Abuja
Equatorial Guinea has said it will use the opportunity of the investment forum being hosted by The African Energy Chamber forum in China at the beginning of July to open up the country’s EG Ronda 2019 Licensing Rounds for oil and gas and mining to Chinese and Asian investors.
Earlier this year, the Ministry of Mines and Hydrocarbons of Equatorial Guinea launched its first-ever mining licensing round, as well as the 2019 oil and gas licensing round in the country. These rounds will attempt to further boost exploration in Equatorial Guinea and support the country’s economic diversification by developing its high-potential mining and minerals industry.
Equatorial Guinea minister for mines and hydrocarbons, Mr. Gabriel Mbaga Obiang, said the forum in China, to be held in Beijing on July 2-3, will showcase 27 blocks on offer under the 2019 Oil & Gas Licensing Round, including blocks EG-23 and EG-27 – former Block R, containing the giant Fortuna gas find – for appraisal development and 25 other blocks for exploration.
It will also present Chinese companies with the opportunities to explore Equatorial Guinea’s mineral resources, especially in the Rio Muni area in the country’s Littoral Province. Although unexplored, the area holds vast potential in mineral deposits such as gold, diamonds, base metals, iron ore, and bauxite.
“This forum in China is central to Equatorial Guinea’s strategy of attracting a variety of investors and companies to explore the country’s oil and gas and mineral resources. We are offering acreages with very high potential for world-class discoveries and also a reformed business environment that makes us very competitive internationally,” the minister said
Mickael Vogel, AEC director of strategy, added: “The The African Energy Chamber and our Chinese counterparts are excited to host EG Ronda’s Oil & Gas and Mining Licensing Rounds in China. Equatorial Guinea remains largely untapped and underexplored. Chinese investors are keen to engage and do good deals in the energy industry, and we welcome their support.”