“This is a historic moment for Equatorial Guinea as we welcome once again long-standing partners of our country to explore onshore Río Muni. We expect this region to become a new natural resources hub both for onshore oil & gas operations but also for mining and minerals,” said Equatorial Guinea Minister of Mines and Hydrocarbons (MMH) Gabriel Mbaga Obiang Lima.
The project follows the signing of a MoU between Rosgeo and the MMH of Equatorial Guinea during the Russia-Africa Summit in October 2019 in Sochi.
Zarubezhgeologia and Yuzhmorgeologia, 2 units of Rosgeo, signed service contracts in May 2020. The former will work on scouting work for state geological mapping. Yuzhmorgeologia will carry out scouting work for complex seismic acquisition in the Rio Muni transit zone.
This will set the stage for the next phase of exploration. The African Energy Chamber said Rio Muni was one of the “most promising exploration frontiers” in Equatorial Guinea.
This program marks the re-entry of Rosgeo into Equatorial Guinea following successful operations of its subsidiary Zarubezhgeologia back in the 1970s, when its activities formed the basis for Equatorial Guinea’s geological exploration industry.
