The APPO CAPE VII Congress and Exhibition took place in Malabo, Equatorial Guinea. Organized by Africa Oil & Power, the congress brought all APPO petroleum ministers and private sector oil and gas leaders together on April 2-5, 2019. APPO ’s theme for 2019 concentrated on uniting the African countries and to promote cooperation with private companies throughout the continent to attract further international investments to boost the oil and gas industry.
This event was quite important for the African oil and gas sector. The event saw the signing of a key backfill agreement, three licensing round presentations and opening addresses from heads of state and ministers from across the continent. The agreements saw an increase in Sonagas’ stake in the EGLNG production facility from 25 to 30 percent, and commitment to tolling Alen Unit gas through Alba Plant’s liquified petroleum gas (LPG) processing plant. Furthermore, the EG Ronda 2019 oil and gas mining licensing puts on offer 26 onshore and offshore blocks, including Ophir Energy´s former Block R which encompasses the currently stalled Fortuna floating liquified natural gas project that is now on offer as EG-27.
“This is the kick off of our gas mega hub, and we will do more deals on other gas assets in the country that must be developed. Development of the gas mega hub will ensure a thriving Equatorial Guinea gas industry into the future. It is my firm belief that it will create opportunities for development of our citizens in the upstream and downstream segments of the country’s oil and natural gas industry,” said Lima.
According to Minister of Mines and Hydrocarbons of Equatorial Guinea H.E. Gabriel Mbaga Obiang Lima, national oil companies need to take greater ownership over domestic natural resources. “It´s very important that African countries that have resources wake up. We are the only continent that is having discoveries after discoveries month after month. Senegal, Mozambique, Gabon, Nigeria, Equatorial Guinea. The biggest resource in the world is in Africa,” said Lima.
“It is clear that Equatorial Guinea recognizes the value of working through organizations such as OPEC, which can empower African countries with a voice on the global stage. The country’s oil and gas sector is continuing to evolve and expand and help further energize this great country. This includes attracting new investment, plans to launch a new licensing round with new oil and gas companies and overseas operators interested in new blocks, as well as continuing work improving the regulatory environment,” said H.E. Mohammed Sanusi Barkindo, Secretary General of OPEC.
About Africa Oil & Power:
Africa Oil & Power is the continent’s premier platform for energy investment and policy. With a heralded series of energy events, AOP brings together an elite class of ministers and senior level government officials and top executives of private sector companies spanning the energy value chain, including upstream, downstream, engineering, construction, services, consulting, power generation, legal and finance.
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