Chinese firms push to acquire mining, oil and gas assets in Equatorial Guinea

EG ChinaAfrican Energy Chamber stated that Equatorial Guinea Ronda has received great interest from public and private Chinese companies to invest in Equatorial Guinea and explore opportunities in oil and gas and minerals at the upcoming EG Ronda Licensing Round meetings in Beijing

The chamber will host the two-day investor forum at the Kempinski Hotel Beijing on 2-3 July, on behalf of Equatorial Guinea’s Ministry of Mines and Hydrocarbons.

The biggest names amongst the Chinese energy industry are confirmed to attend, including companies such as PowerChina Group, Sinochem, ENN Group, CCCC, CMEC, China Minmetals Corp, China Gas, Beijing Gas, Jincheng Anthracite Mining Group, PetroChina, Sinoenergy, CNOOC etc.

Gabriel Mbaga Obiang Lima, minister of mines and hydrocarbons who will be in Beijing next week with his delegation of senior officials, said, “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.”

“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,” he added.

The EG Ronda Licensing Round Roadshow 2019 in Beijing will showcase the 27 oil and gas blocks on offer as part of the country’s 2019 oil and gas licensing round and promote the high potential that Equatorial Guinea has in minerals such as gold, diamonds, bauxite and iron ore.

Obiang 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.

Mickaël Vogel, director of strategy at the chamber, stated, “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.”

“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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