RUSSIA EXECUTES RECORD-BREAKING OIL DEAL IN AFRICA

RUSSIA EXECUTES RECORD-BREAKING OIL DEAL IN AFRICA

RUSSIA EXECUTES RECORD-BREAKING OIL DEAL IN AFRICA
 
Adedayo Osho, Oct. 6, 2020
Abuja
 
Rosgeo, a Russian government-owned geological exploration company has confirmed its initial team of experts landed in Equatorial Guinea to kickstart a geological mapping project in the small African country.
 
Equatorial Guinea is a country located on the west coast of Central Africa, comprising the Rio Muni mainland and five volcanic offshore islands, with its capital in Malabo. She is the only sovereign African state in which Spanish is an official language. 
 
Among others, the project will be analyzing landscape conditions for geological surveying and prospecting; determine the scope of mapping drilling; research the possibility of mineralogical sampling of channel deposits; analyze technical conditions for the arrangement of geological camp in Rio Muni and conduct additional scouting necessary to prepare for subsequent stages of exploration activities in the country, if any. The mainland region, Rio Muni, is bordered by Cameroon on the north and Gabon on the south and east. 
 
Commenting on the development, Equatorial Guinea's Minister of Mines and Hydrocarbons, Gabriel Mbaga Obian Lima said "This is a historic moment for Equatorial Guinea as we welcome once again long-standing partners of our country to explore onshore Rio Muni. We expect this region of Equatorial Guinea to become a new natural resources hub both for onshore oil and gas operations but also for mining and minerals. Upcoming exploration activities will provide the foundation for this next phase of growth in our industry, and having Rosgeo on the ground gives us confidence and faith for a successful exploration campaign."
 
Execution of the project commenced barely a year a Memorandum of Understanding MoU was signed between Rosgeo and the Equatorial Guinea's Ministry of Mines and Hydrocarbons, during the Russia-Africa Summit which held at the Olympic Park Main Media Centre in the city of Sochi in October 2019.
 
The landmark gas project is being implemented by JSC Zarubezhgeologia and JSC Yuzhmorgeologia, both which are subsidiaries of Rosgeo.