Minister for Mines takes part in Africa OIL & Power in South Africa

Gabriel Mbega Obiang Lima, Minister for Mines and Hydrocarbons, is taking part in Africa OIL & POWER, which is taking place in Cape Town, South Africa, from 5th to 7th June.

As the main platform for investment and energy policy for the African continent, over these few days Africa OIL & POWER has brought together in Cape Town various African ministers, secretaries of State, and director generals from the oil and gas sector, together with senior executives from companies in the private sector and experts in legal finance and investment, in order to look at various issues related to the African energy situation. This platform brought together people who are related and with common interests, with the aim of facilitating crucial investment to boost African economies.

Present at the forum were Fafa Sanyang, Minister for Petroleum, and Energy in Gambia; Mmamoloko Kybayi, Minister for Energy in South Africa, and Ezequiel Lol Gatkouth, Minister for Petroleum from the Republic of South Sudan, among many other figures.

The Equatoguinean Minister for Mines took advantage of the forum on the 5th to present to all the investors present the opportunities that, once again, are offered by the mining, hydrocarbons and gas sectors in the Republic of Equatorial Guinea for foreign investment. Before a packed auditorium, the minister gave a presentation ranging from projects that the department under his leadership is carrying out, to the mining sector, which has very high potential in resources and needs investment for production.

Mbega Obiang Lima presented a list of large projects, including:

Fortuna FLNG. As the first project of this nature on the African continent, its aim is to monetise the deep-water gas from Block R, through a floating liquefied natural gas (FLNG) plant. The Government of the Republic of Equatorial Guinea and the English company Ophir Energy has already signed the contract, and all the relevant work is being carried out so that, in 2020, the first shipment of gas can be obtained.

Floating LNG for Blocks O and I. In the month of May a Memorandum of Understanding was signed between the Ministry for Mines and Hydrocarbons and OneLNG. This project, like the previous one, seeks to monetise gas from blocks O and I, through a second floating ship; and it is expected that the commercial and technical structure will be put in place during 2017.

Bioko OIL TERMINAL. The construction of storage tanks for petroleum derivative products. This project involves the construction of various storage tanks for products, with a total capacity of 520,000 cubic metres, with the intention of providing a storage solution mainly to companies dedicated to the business of the import and export of refined products.

As a culmination of the work carried out over these days in Cape Town, the minister took advantage of the auditorium and the dozens of media organisations present to announce the Closure of the Bidding Round for 2016, and the publication of the list of winning companies in some of the areas not on the licence map in Equatorial Guinea.

Source: Official Web Page of the Government of the Republic of Equatorial Guinea

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