The African Energy Chamber (AEC), the voice of the continent’s energy sector, plans to woo Chinese investors on behalf of Equatorial Guinea in the coming weeks.
The Chamber has partnered with the West Coast African country’s Ministry of Mines and Hydrocarbons in a bid to develop the nation’s oil and gas industry.
As part of the initiative, the AEC will host an investment forum in Beijing from the 2nd to the 3rd of July 2019, with a focus on giving Chinese and Asian investors access to Equatorial Guinea’s EG Ronda 2019 Licensing Rounds for oil and gas and mining. The forum will be held at the Kempinski Hotel Beijing Lufthansa Center.
Equatorial Guinea’s Ministry of Mines and Hydrocarbons launched its first-ever mining licensing round earlier this year, as well as its 2019 oil and gas licensing round in the country.
Commenting on the move, the African Energy Chamber stated that these rounds are key to further boosting exploration in Equatorial Guinea and supporting the country’s economic diversification by developing its high-potential mining and minerals industry.
“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,” said Gabriel Mbaga Obiang Lima, Equatorial Guinea’s Minister of Mines and Hydrocarbons.
“We will be presenting opportunities in both licensing rounds and holding private meetings with interested investors. We are offering acreages with very high potential for world-class discoveries and also a reformed business environment that makes us very competitive internationally. We welcome all stakeholders from China and the region to come to this roadshow and engage with us on business opportunities in Equatorial Guinea,” he continued.
The forum in China will showcase 27 blocks on offer under the 2019 Oil & Gas Licensing Round – including the country’s now famous 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. While unexplored, the area holds vast potential in mineral deposits such as gold, diamonds, base metals, iron ore and bauxite.
“Equatorial Guinea remains largely untapped and underexplored,” said Mickael Vogel, AEC Director of Strategy.
“Chinese investors are keen to engage and do good deals in the energy industry and we welcome their support,” he concluded.