In Equatorial Guinea, the Ministry of Mines and Hydrocarbons has signed a Memorandum of Understanding with Shell Group to facilitate a greater partnership on various oil and gas-related projects in the country.

According to the Minister of Mines and Hydrocarbons, Gabriel Mbaga Obiang Lima, the MoU will pave the way for Shell to be part of future hydrocarbons activities in Equatorial Guinea.Presently, the company is present in the country through the acquisition of BG Group, completed in February 2016. BG has a 17-year procurement agreement for all liquefied natural gas produced by the Equatorial Guinea LNG facility since 2007.

“Equatorial Guinea is an African leader in upstream oil and gas development and the strategic monetization of gas reserves. The government has pledged to continue on this progressive path, and with the knowledge and experience of Shell Group, I am confident that this agreement will usher in new opportunities for investment. We look forward to a long and productive relationship with Shell and anticipate further cooperation on a range of oil and gas initiatives,” he told Oil Voice.

Anita Fatunji