On June 20, 2016, His Excellency the Minister of Mines, Industry and Energy presented an overview of Equatorial Guinea’s energy sector at the Oil and Gas Council’s Africa Assembly in London. Watch the video, including the second round of the EG Ronda 2016 promotional tour, here:
H.E. the Minister Gabriel Mbaga Obiang Lima, Minister of Mines, Industry and Energy of Equatorial Guinea, has reiterated his call for increased investment in oil and gas exploration. Presenting at the Oil & Gas Council Africa Assembly in London, the Minister continued to promote licensing opportunities in Equatorial Guinea, saying the worst of the global commodity slump was over.
“Now is the time to promote investment in oil and gas,” the Minister said. “The rains are over and the sun is coming out and we know the flowers will soon begin to blossom.”
The Equatorial Guinea oil and gas licensing round lands in London on June 21, 2016 for the Africa Assembly, hosted by the Oil & Gas Council. Key officials of the Ministry of Mines, Industry and Energy (MMIE), including H.E. the Minister Gabriel Mbaga Obiang Lima, Minister of Mines Industry, will be present at the two-day conference to promote the bidding round, dubbed EG Ronda 2016. The Minister will also participate in a panel session to discuss major projects in Equatorial Guinea, including Fortuna FLNG.
EG Ronda 2016 presents the text of H.E. the Minister Gabriel Mbaga Obiang Lima’s keynote speech at the Africa Oil & Power conference on June 6:
Today, I have the distinct pleasure to talk to all of you about the State of Africa’s oil and power industry. We know that the last 18 months have been especially challenging for our industry. A sustained decline in the oil price forces everyone to make difficult decisions and painful adjustments. For oil companies, that comes in the form of a lower share price and unfortunate layoffs of workers. Portfolios must be consolidated and some assets need to be relinquished. For Africa countries that rely on oil and gas as the engines of economic growth, we must often come terms with stagnation or even outright recession. Crucial infrastructure projects which are critical to the economic growth of our country must either be delayed or canceled. Losses of tax revenues result in the cutting of social welfare programs in health and education that are vital to the improvement of our societies.
Cape Town, June 6, 2016 – During a press conference held during the Africa Oil & Power conference, the Ministry of Mines, Industry and Energy of Equatorial Guinea announced the near-shore discovery of gas accumulates at the EG-01 block, located in the Rio Muni Basin. The exploratory well on the Sothis Prospect was drilled by G3 Oleo e Gas of Brazil. Operations kicked off on March 14, 2016 with the drilling rig Sapphire Driller.
In an interview on CNBC Africa on June 6, H.E. Gabriel Mbaga Obiang Lima, Minister of Mines, Industry and Energy announced the launch of the EG Ronda 2016 licensing round and explained why now is the right time to invite companies to express interest in Equatoguinean acreages.
“The good news is that the slump is over. Prices are stable right now and we do believe that this is the best time to be able to start promoting acreage again,” said H.E. the Minister. “Our model PSC contracts are one of the most attractive in the region … [and] we have been focusing on investing all our resources on infrastructure and human resources”
The 2016 Equatorial Guinea Oil and Gas Licensing Round welcomes expressions of interest on 37 open licenses. The bidding period concludes November 30, 2016.
Cape Town, June 6, 2016 – Equatorial Guinea’s Ministry of Mines, Industry and Energy (MMIE) today launched the country’s latest oil and gas blocks licensing round, EG Ronda 2016, at the Africa Oil & Power conference. Companies are now able to submit letters of interest to the Ministry, and to view the official map of available blocks.
The Ministry of Mines, Industry and Energy of Equatorial Guinea today released the first edition of the 2016 oil and gas licenses map. The document displays all areas of Equatorial Guinea’s territory that are open for bidding in the EG Ronda 2016, under direct negotiation, operated and producing oil and gas.
View and download the map here.
Cape Town, May 19, 2016 – The Government of Equatorial Guinea will officially launch the country’s oil and gas licensing round, EG Ronda 2016, at the Africa Oil & Power conference, to be hosted June 6-7, 2016 at the Westin Hotel, in Cape Town. The opening of EG Ronda 2016 will take place during a Market Spotlight session on Equatorial Guinea in which officials of the Ministry of Mines, Industry and Energy will showcase available licenses, existing exploration prospects and future projects opportunities. H.E Gabriel Mbaga Obiang Lima, Minister of Mines, Industry and Energy, will give the keynote address. Africa Oil & Power will be the first time that information about the licenses on offer will be made available to investors.