Equatorial Guinea officially launches Year of Investment 2020 Campaign
Major U.S. firms have pledged to increase their investment in Equatorial Guinea in 2020
MALABO, Equatorial Guinea, January 28, 2020/ -- Equatorial Guinea has kicked off a year-long investment campaign
aimed at driving capital investment into the country’s bankable
projects; Major U.S. firms have pledged to increase their investment in
Equatorial Guinea in 2020, along with Nigerian banking and financial
institutions; Notable investment-ready projects include the construction of two modular oil refineries, an ammonia plant, a urea plant and a
gold refinery; The first in-country investment event will be the Africa
Oil & Investment Forum & Exhibition hosted in Malabo (April
1-2).
Equatorial Guinea’s Ministry of Mines and Hydrocarbons (MMH) has
officially launched its Year of Investment campaign, with a series of
foreign investors already making their commitment to increasing planned
investment in the country in 2020.
In a bid to position Equatorial Guinea as a regional and international
investment hub, the country aims to engage with financial entities and
engines of growth in neighboring economies. High-level Nigerian
investors, bankers and financiers, including Africa Financing
Corporation, Sterling Bank, First Bank, UBA and Zenith Bank, are
currently in talks with the MMH about project financing opportunities.
The Nigerian Content Development and Monitoring Board, in partnership
with Waltersmith Petroleum Oil Limited, has pledged to assist Equatorial Guinea in the development of its modular refineries, with the Nigerian
modular refinery serving as a model for operation and local content
engagement.
Owned by U.S. upstream giants Marathon Oil, Noble Energy and state-owned Sonagas, the Atlantic Methanol Production Company, meanwhile, announced its aim to double down on planned investment in the expansion and
diversification of the country’s downstream sector through the
construction of a methanol-to-gasoline and derivatives unit.
As part of its initiative, the MMH is targeting one billion dollars in
foreign direct investment to be channeled into several key investment
opportunities in both Equatorial Guinea’s and Africa’s energy sectors.
These include, but are not limited to, modular oil refineries, an
ammonia plant, a gas import terminal, liquefied petroleum gas storage
tanks and other projects spanning the entire energy value chain.
Equatorial Guinea 2020 Year of Investment serves to attract foreign
direct investment into key industries in Equatorial Guinea that will
diversify the country’s energy sector, boost entrepreneurship, generate
profit for investors and create jobs.
The campaign is anchored by three in-country investment-driven events:
Africa Oil & Investment Forum & Exhibition (April 1-2); Oil
& Gas Meeting Day (June1-2); and the Africa Economic Forum (November 24-25).
International roadshows include: the UAE – Atlantic Council Global
Energy Forum (January 10-12); Nigeria International Petroleum Summit
(February 9-12); US-CERAWEEK 2020 (March 9-13); Canary Islands – O&G Meeting Day (June 1-2); Russia – St. Petersburg International Economic
Forum (June 3-6); China – Equatorial Guinea Forum (July); UAE – ADIPEC
(November 11-14); and U.S. – 23rd World Petroleum Congress, Houston (December 6-10).
The campaign follows the success of the Year of Energy 2019 initiative,
which sought to position Equatorial Guinea as the energy capital of the
continent through a series of Africa-focused events and its promotion of landmark energy projects within the country.
To learn more about Equatorial Guinea Year of Investment 2020 please visit www.investineg.com. To submit a letter of interest and learn about investment opportunities and terms in Equatorial Guinea, please contact Mr. Oscar Berniko, Director General in charge of State Entities, at oscar.berniko@gmail.com. If you would like to know more, attend or participate in any of the Year of Investment events please email equatorialguinea@africaoilandpower.com.
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