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Tuesday, June 21, 2016
Equatorial Guinea’s government is promoting its offshore acreage and showcasing the nation’s oil and gas achievements in the EG Ronda 2016 oil and gas blocks licensing round. The country’s Minister of Mines, Industry, and Energy, Gabriel Mbaga Obiang Lima, during his presentation in London reiterated the need for increased investment in oil and gas exploration.
Presenting at the Oil & Gas Council Africa Assembly in London, Lima continued to promote licensing opportunities in Equatorial Guinea, saying the worst of the global commodity slump was over. “Now is the time to promote investment in oil and gas,” he said. “The rains are over and the sun is coming out and we know the flowers will soon begin to blossom.”
Lima’s appearance at the Oil & Gas Council Africa Assembly was the second stage of a five-city global tour to promote EG Ronda 2016, the oil and gas licensing round. The bidding round has put on offer 37 licenses, comprising all acreage not currently operated or under direct negotiation.
During his presentation, the Minister also stressed the importance of monetizing gas discoveries. He said that while companies continued to look at oil as the biggest prize, natural gas should play an important role in fueling local industry and gas-to-power initiatives.
EG Ronda 2016 launched on June 6 at the Africa Oil & Power conference in Cape Town and will conclude on November 30, 2016. The MMIE invites interested parties to submit letters of interest. After the Africa Assembly in London, the bidding round promotional tour moves to Singapore, Istanbul, and Houston.
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