Nigeria and Equatorial Guinea signs a deal on development of stranded natural gas

NIGERIA – Nigeria and Equatorial Guinea have signed a Memorandum of Understanding (MoU) to supply gas from Nigeria’s offshore fields to the neighboring country’s gas processing facility in Punta Europa. The MoU kicked off a strategic economic collaboration across the Gulf of Guinea where Nigeria’s abundant natural gas reserves complement the country’s gas liquefaction infrastructure. The move has facilitated major…

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Equatorial Guinea secures US$138M from BDEAC for Sendje hydropower plant

Sendje Hydopower

EQUATORIAL GUINEA – The government of Equatorial Guinea has secured US$138 million (122 million euros) from The Development Bank of Central African States (BDEAC)  in additional financing for the completion of the 200 MW Sendje hydroelectric power station. A report by Africa Energy Portal noted that funds from the BDEAC will enable the authorities of the Central African country to…

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Equatorial Guinea adopts new regulation to boost foreign investment in petroleum sector

EQUATORIAL GUINEA — The Republic of Equatorial Guinea has announced the adoption of the new Regulation of Petroleum Operations to boost foreign investment in the petroleum sector. Africa Energy Chamber reports that the new petroleum regulation modernizes Equatorial Guinea’s existing regulatory framework and is intended to maintain the country’s attractiveness for foreign investors. The petroleum regulation notably covers key matters…

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Equatorial Guinea signs its very first mining contract with three different companies

EQUATORIAL GUINEA – The Ministry of Mines and Hydrocarbons has its very first five mining contracts with three different companies and follow the conclusion of the country’s first mining bidding round last year, EG Ronda 2019.  “Mining is a key contributor to economic growth and jobs creation across West and Southern Africa, and we truly believe that it is time that…

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Equatorial Guinea selects key companies for execution of energy projects

Equatorial Guinea – The Board of Directors of the Ministry of Mines and Hydrocarbons (MMH) of Equatorial Guinea has selected and revealed companies shortlisted for the execution of its landmark projects under its ongoing Year of Investment. The country is building a modular refinery, storage tanks and a methanol-to-derivatives plant at Punta Europa, where most of Equatorial Guinea’s gas and…

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Marathon Oil commits to increase investment in Equatorial Guinea’s Gas and Oil sector

EQUATORIAL GUINEA — Marathon Oil Corp, one of the biggest energy investors in Equatorial Guinea, has committed to increase its investment in the required infrastructure to support the Government’s vision for the Gas Mega Hub. The commitment was after the oil multinational’s Chairman, President and CEO Lee Tillman and Executive Vice President Mitch Little were given a courtesy visit by…

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Equatorial Guinea Signs MoUs with multinationals in Abu Dhabi to Boost Oil and Mining Exploration

EQUATORIAL GUINEA – The Ministry of Mines and Hydrocarbons of the Republic of Equatorial Guinea has signed several MoUs with successful bidders of its 2019 Licensing Round, on the sidelines of the Atlantic Council’s Global Energy Forum in Abu Dhabi. Under EG-RONDA 2019, the government of Equatorial Guinea offered 27 free blocks for exploration across its sedimentary basins. The licensing…

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Investors to pump US$1.5 billion in Equatorial Guinea’s Oil and Gas sector in 2020

EQUATORIAL GUINEA – Equatorial Guinea, one of the Africa’s oil producing nation has said that it expects major investments in the oil and gas sector in 2020. The country on the west coast of Central Africa estimates US$1.2 billion in investments and a contingent forecast of $273 million into its hydrocarbon sector in 2020. The Ministry of Mines and Hydrocarbons…

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Equatorial Guinea partners with Algeria to develop gas sector

EQUATORIAL GUINEA – Equatorial Guinea through its national gas company (Sonagas) has signed a Memorandum of Understanding on enhanced cooperation in the field of gas transmission, distribution and energy efficiency with the National Electricity and Gas Company of Algeria (Sonelgaz) According to a statement by the Africa Oil and Power Conference, the Memorandum of Understanding covers the regulatory framework for…

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AfDB and partners launch new fund to boost digital financial inclusion

GUINEA – The African Development Bank in collaboration with partner organisations has launched the Africa Digital Financial Inclusion Facility (ADFI) to accelerate digital financial transactions across the continent. The fund is supported by the Bill & Melinda Gates Foundation, the Agence Française de Développement (AFD) and the Government of Luxembourg, as initial contributors. With a goal to ensure access to…

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