Chinese Energy Companies Keen to Invest in Equatorial Guinea’s Oil and Gas Sector

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Chinese energy companies are making a push to invest in Equatorial Guinea and explore opportunities in the country’s oil, gas and minerals sectors at the upcoming EG Ronda Licensing Round meetings in Beijing.

The meetings, which are organized by the African Energy Chamber – the voice of Africa’s energy industry – serve as a high profile investment opportunity for various energy companies.

The Chamber will be hosting the two-day investor forum at the Kempinski Hotel Beijing on July 2nd and 3rd on behalf of the Ministry of Mines and Hydrocarbons of Equatorial Guinea.

Chinese energy companies confirmed to attend include PowerChina Group, Sinochem, ENN Group, CCCC, CMEC, China Minmetals Corp, China Gas, Beijing Gas, Jincheng Anthracite Mining Group, PetroChina, Sinoenergy and CNOOC, among others.

“We look forward to welcoming Chinese and global stakeholders at the EG Ronda forum in China. This is going to start our drive to build a successful and profitable mining sector as we have done with oil and gas,” said Gabriel Mbaga Obiang Lima, Equatorial Guinea’s Minister of Mines and Hydrocarbons who will be in Beijing next week with his delegation of senior officials.

“Our mining, oil and gas industry has one thing that foreign investor treasure which is certainty in the policies and regulations thanks to the leadership of the President. Operating for years with a predictable and reliable framework has made our country competitive and we are going to develop our oil, gas and mining resources to benefit investors and our people,” added the Minister.

The 2019 EG Ronda Licensing Round Roadshow in Beijing will be showcasing the 27 oil & gas blocks on offer under the country’s 2019 oil & gas licensing round, and promote the high-potential that Equatorial Guinea has in minerals such as gold, diamonds, bauxite and iron ore. Lima will notably be accompanied by the Director General of Hydrocarbons and the Director General of Minerals and Quarry, and hold several private meetings with Chinese investors.

“Equatorial Guinea has improved its mining and oil and gas policies to reflect the best international practices, as well as improving legal certainty for investors. It is no secret why there is a lot of interest from investors towards our Beijing forum,” said Mickaël Vogel, Director of Strategy at the Chamber.

“The Chamber believes this will help attract more investments and jobs for to Equatorial Guinea. We expect Equatorial Guinea’s strategy of outreach and engagement with global markets to result in very successful licensing rounds this year,” he concluded.

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