Press conference at Ministry for Mines on Equatorial Guinea Energy Year 2019

The Minister for Mines and Hydrocarbons and president of the Organisation Committee for the Equatorial Guinea Energy Year 2019, Gabriel Mbega Obiang Lima, responded to around eleven questions from various national and international media outlets, among them, the Equatorial Guinea Institutional Web Page. The questions revolved around the activities planned for Equatorial Guinea Energy Year.

The aim of the press conference which took place at the headquarters of the ministerial department in Malabo II, on 29th August, was to launch the ambitious, momentous project known as Equatorial Guinea Energy Year 2019. This decision is also part of the agreement reached at the latest Summit of Heads of State of Gas Exporting Countries in 2017, which took place in the city of Santa Cruz, Republic of Bolivia, indicating that Malabo would be the host for the next summit, to be held in 2019.

Based on this decision taken in Santa Cruz, the minister Mbega said that the ministerial department for Mines and Hydrocarbons has seen it fit to carry out a series of activities so that the Equatoguinean State was, in 2019, the centre of activities in the global energy sector, We wanted not only to organise the Summit of Gas Exporting Countries, but for 2019 the Ministry for Mines and Hydrocarbons and its state companies, nationals and collaborators, wanted to be able to ensure that the year would be a period in which we could focus so that the oil and gas sector in the entire African continent could take advantage of this upcoming momentous event”.

Mbega Obiang also indicated that “the ministry, as the overseeing department, has deemed it necessary to support SONAGAS with holding the gas summit which is to take place in October 2018; where we will be able to demonstrate our achievements over our twenty-five years of oil exploitation. At the same conference, we will have the official launch of the Equatorial Guinea energy book, which will contain, among other things, the stages on the production of hydrocarbons in our nation, and the support we offer in the socio-economic development of the country”.

Speaking about these upcoming events, the minister also pointed out that the Republic of Equatorial Guinea, like other producers and exporters of crude, is not on the margins of the crisis affecting the world due to the fall in the price of hydrocarbons.

we are at a point where we should take stock of how much we have done in relation to our national and international investment. The conference is not only aimed at raising our economy, but also serves to attract investment, given that one of the multiple aims of the ministry is to continue with the development of our sector, and as the department responsible for this within Government activity, we can also incentivise other sectors that may lead to an improvement of the economy, such as the tourist sector, services, etc. due to the number of tourists and delegates that will attend our upcoming events”.

In reference to the investment of oil companies and he attraction of investors, Mbega Obiang Lima said that at the conference to be held in March the aim would be to attract five main investors from the African continent, We expect to draw the attention of key countries such as Nigeria, Algeria, Angola, Egypt and South Africa, so that nations can come together and work together on the development of the Republic of Equatorial Guinea, in addition to further boosting the private sector through small and medium-sized companies”.

With respect to the excessive dependence on resources from the petroleum sector, the Minister for Mines pointed out that “as leader in this sector, my responsibility is the attract investors who come to cooperate in the oil and gas sectors. For that reason, I would ask my counterparts to also do the same in order to reach the level we now find ourself at in the oil sector.

Conscious of our work, we are going to continue to fight to attract more investors in order to strengthen the sector in which we compete, to find more oil and gas, and as a member of the Government, tell them that the Government steered by our Head of State, H. E. Obiang Nguema Mbasogo, has a plan for development and diversification, which are included in primordial programmes, and we are convinced that the Government will continue with the economic diversification of the Nation”.

Among other questions clarified during the questions session, which was attended by members of the Government, representatives from diplomatic missions, chiefs from national and international oil companies and services, the minister asked for the collaboration of all residents in the country in order that all these conferences held before, during and after Equatorial Guinea Energy Year 2019 are a success.

Source: Equatorial Guinea Press and Information Office

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