File picture: Karen Sandison/African News Agency (ANA).
File picture: Karen Sandison/African News Agency (ANA).

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

By ANA Reporter Time of article published Jun 27, 2019

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JOHANNESBURG  - Public and private Chinese companies have shown an interest in investing in Equatorial Guinea and exploring opportunities in oil, gas and minerals ahead of an investor forum in Beijing organised by the African Energy Chamber.

The roadshow on behalf of Equatorial Guinea's mines and hydrocarbons ministry has attracted big names from China's energy industry such as PowerChina, Sinochem, ENN Group, CCCC, CMEC, China Minmetals Corp, China Gas, Beijing Gas, Jincheng Anthracite Mining Group, PetroChina, Sinoenergy and CNOOC, the chamber said in a statement.

The forum will be the start of Equatorial Guinea's drive to build a successful and profitable mining sector as it has done with oil and gas, mines and hydrocarbons minister Gabriel Mbaga Obiang Lima said.

"Our mining, oil and gas industry has one thing that foreign investor treasure which is certainty in the policies and regulations ... 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 said.

The roadshow will showcase the 27 oil & gas blocks on offer under the country’s 2019 oil & gas licensing round and promote the high-potential that Equatorial Guinea has in minerals such as gold, diamonds, bauxite and iron ore.

“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," said Mickaël Vogel, director of strategy at the African Energy Chamber. 

"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."

- African News Agency (ANA) 

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