Equatorial Guinea’s Ministry of Mines and Hydrocarbons has signed the very first mining contracts in the Central African country’s history.
Equatorial Guinea, through the Ministry of Mines and Hydrocarbons, intends to fully tap into its minerals potential, especially in the Rio Muni area.
Oil and Gas
This follows the signing of a Memorandum of Understanding between both entities during the Russia-Africa Summit in Sochi last October.
The Ministry of Mines and Hydrocarbons of the Republic of Equatorial Guinea has signed several MoUs with successful bidders of its 2019 licensing round.
“The situation in the Democratic Republic of Congo won’t improve anytime soon,” warns Verisk Maplecroft Africa Analyst, Indigo Ellis.
Equatorial Guinea has made a significant move toward joining the Extractive Industry Transparency Initiative (EITI).
The Ministry of Mines and Hydrocarbons, representing the Government of Equatorial Guinea, has called for unity among oil producing countries.