Tuesday, November 1, 2016

Equatorial Guinea To Participate In Upcoming Investment Summit, Continues Strengthening Relations With The Middle East

The Republic of Equatorial Guinea is set to strengthen its relationship with the Middle East and expand potential investments during the upcoming EG Ronda tour in the region. Led by the Ministry of Mines and Hydrocarbons, the EG Ronda will participate in the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in the United Arab Emirates later this month.

The Ministry will host a special panel on 7 November as part of the ADIPEC VIP Programme to select members of the Middle East Petroleum Club, a group which includes ministries, government bodies, international oil companies, state-owned companies, and diplomatic institutions.

“We are thrilled to bring EG Ronda to ADIPEC, the best and biggest platform in the region for doing oil and gas business. We launched this fifth licensing round knowing that diversifying our investor base would be critical to our success and we are eager to forge new ties with firms in the Middle East,” said H.E. Gabriel Mbaga Obiang Lima, the Minister of Mines and Hydrocarbons.

The Minister will present upstream oil and gas exploration opportunities in Equatorial Guinea to interested parties during the panel as well as hold a moderated panel featuring key industry members.

The EG Ronda coincides with a period of strengthening relations between Equatorial Guinea and the Middle East.

On 24 October of this year, Equatorial Guinea and Kuwait signed a Memorandum of Understanding to strengthen bilateral relations during an official state visit by Equatorial Guinean President, H.E. Teodoro Obiang Nguema Mbasogo. Later this month, Equatorial Guinea will host the 4th Africa-Arab World Summit in Malabo, an event which gathers members of both the African Union and the Arab League for high-level discussions.

ADIPEC is the region’s largest showcase for oil and gas investment, with more than 2,000 companies in participation.