IMF delegation concludes mission

1468457065On Wednesday 13th July the International Monetary Fund (IMF) mission, which began on 30th June, concluded with recommendations to improve our country’s economy.


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The IMF Adviser for Africa, Montie Mlacila, in a statement to the press on completing the work, recognised the support and cooperation that the IMF mission received from the ministerial departments involved, together with companies and public agencies, affirming that “we have received a lot of data, and also the documentation necessary to carry out the work”.

In relation to the challenges that Equatorial Guinea must overcome, he mentioned the drop in the price of hydrocarbons, which is a significant challenge for Equatorial Guinea, together with the reduction in oil production. Regarding the economic situation, he said that it continued to be difficult in 2015, due also to the reduction in oil production.

For his part, the Minister of Finance and Budgets, Miguel Engonga Obiang Eyang pointed out that the conclusions adopted following the work are in line with what the Government had concluded in its own analysis. “We are satisfied because it is a report that firstly recognises the efforts of the Government in relation to development, with respect to social development indicators”.

He also said that there had been deficiencies that had been highlighted in relation to the business climate and tourism, which are sectors that can be developed in our country, because tourism is currently a global industry that provides resources and activity to many countries.

Concerning activities in the customs sector, the Minister of Finance highlighted the fact that the Government had deployed actions to improve the sector, with the installation in customs of a computer program for the payment of taxes, the reform of tax law, and the adoption of a fiscal amnesty law, which would also contribute towards the collection of taxes.

All these projects are aimed at economic diversification, in order to create more activity and increase tax revenue.

Text and photos: Clemente Ela Ondo Onguene (DGPWIGE)
Equatorial Guinea Press and Information Office

Notice: Reproduction of all or part of this article or the images that accompany it must always be done mentioning its source (Equatorial Guinea’s Press and Information Office).


The company SBM Offshore formalises its services in Equatorial Guinea

146828296612/07/2016. On Monday 11th July, the company SBM Offshore formalised its services in the Republic of Equatorial Guinea. The signing of agreements took place at the Ministry of Mines and Hydrocarbons, between the Minister Gabriel Mbega Obiang Lima and Nicholas Gillard, the company representative.

The Minister of Mines and Hydrocarbons, Gabriel Mbega Obiang Lima, oversaw the act formalising the services of the oil company SBM Offshore in Equatoguinean territory, in one of the meeting rooms at the department.

The first to speak was the Director General for National Content, Oscar Vicente García Bérniko, who told the plenary session about the circumstances under which the company would operate during the years of service in the country.

Following the signing of the agreement between Mbega Obiang Lima and Nicholas Gillard, the branch head spoke, and congratulated the company on this step, and urged others to do the same.

Gillard, in his address, expressed gratitude for the efforts of the Government and the Minister for the management and support provided daily to companies in the mines and hydrocarbons sector.

The meeting was attended by the branch Vice-Minister, Agapito Edu Ndong, departmental advisers, director generals, and various section heads.

Text and photos: Mansueto Loeri Bomohagasi (DGPWIGE)
Equatorial Guinea Press and Information Office

Notice: Reproduction of all or part of this article or the images that accompany it must always be done mentioning its source (Equatorial Guinea’s Press and Information Office).

Invitation to the International Forum on Investment and Infrastructure Construction

146802342209/07/2016. The Minister for Public Works, Pedro Ela Nguema, met with figures from the Chinese government, who gave him an official invitation to attend the 8th Edition of the International Forum on Investment and Infrastructure Construction.

The Chinese diplomat extended an official invitation to the Minister of Public Works, Pedro Ela Nguema, to attend the 8th Edition of the International Forum on Investment and Infrastructure Construction, which will take place in Macao.

The Equatoguinean minister asked for more collaboration from this friendly country with respect to the execution of work that the Government is undertaking in Equatorial Guinea. For his part, the Chinese official congratulated Ela Nguema on his appointment as head of the Public Works portfolio.

Institutional Web Page General Directorate ((DPGWIGE)
Equatorial Guinea Press and Information Office

Notice: Reproduction of all or part of this article or the images that accompany it must always be done mentioning its source (Equatorial Guinea’s Press and Information Office).

Meeting with IMF experts

146793116708/07/2016. Those responsible for State Budgets and Assets have answered questions relating to strategies for the reduction in poverty, and Government projects, at a meeting attended by experts from the International Monetary Fund (IMF) The 2015 census and data and indicators from the Household Survey from last year were also analysed at the meeting.

The heads of the National Institute of Statistics pointed to the six basic programmes of the Equatoguinean Government for 2020, focussing on electricity, water, health, education and employment for all.

Another of the institutions present reported to the IMF of the rate of population growth, which has gone up by 3.5% in comparison with previous years since 1994.

Furthermore, they provided data on the development in progress in the country.

The evaluation work which the IMF is carrying out will continue until Friday 8th July.

Institutional Web Page General Directorate ((DPGWIGE)
Equatorial Guinea Press and Information Office

Notice: Reproduction of all or part of this article or the images that accompany it must always be done mentioning its source (Equatorial Guinea’s Press and Information Office).

Agreement signed between GEPETROL and CLICTIC

1468012594On 7th July, the First Deputy Director General of GEPETROL; Vicente Abeso Mbuy, and the Executive President of CLICTIC; Brais Blanco Rodicio, signed a cooperation agreement on on-line training services and education.

Within the framework if initiatives led by the General Directorate of the Equatorial Guinea National Oil Company (GEPETROL), with the aim of improving the capabilities of its human resources in order to obtain maximum profits for the company, and outline a career path for employees, on 7th July the company GEPETROL signed a cooperation agreement with the company CLICTIC, that specialises in on-line training services and education.

The agreement was signed by the Executive President – Administrator of CLICTIC, Mr. Brais Blanco Rodicio, and the First Deputy Director General, Mr. Vicente Abeso Mbuy, representing the Director General, Mr. Antonio Oburu Ondó.

With the signing of this agreement, GEPETROL is continuing to back innovation in order to strengthen its human resources, promote talent, and become a benchmark in corporate creativity.

Source: GEPETROL
Equatorial Guinea Press and Information Office

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New deal signed by Equatorial Guinea and Shell to increase oil and gas collaboration

  • Equatorial Guinea signed an MoU with Shell, effective July 4, 2016, to enable greater cooperation on oil and gas projects
  • Shell entered Equatorial Guinea’s gas sector in 2016 through the acquisition of BG Group, the long-term buyer of LNG cargoes from EGLNG facility.
  • Government welcomes Shell to Equatorial Guinea’s energy sector and anticipates close collaboration on a range of initiatives


Malabo, 6 July 2016
new_deal

The Ministry of Mines and Hydrocarbons (MMH) of Equatorial Guinea signed an historic memorandum of understanding with Shell Group on July 4, 2016. The MoU will enable greater collaboration between the two parties on numerous oil and gas-related projects. This new agreement testifies to the Equatoguinean Government’s continued drive to extract the maximum value from its natural resources.

Shell’s acquisition of BG Group, completed in February 2016, heralded the entry of the oil company into Equatorial Guinea, pending approval from the Minister of Mines and Hydrocarbons. BG has a 17-year purchase agreement for all liquefied natural gas produced by the EGLNG facility since 2007. In addition to Shell’s heightened focus on existing activities in Equatorial Guinea’s oil and gas sector, the MoU facilitates the future entry of the firm into new hydrocarbons projects.

“Equatorial Guinea is an African leader in upstream oil and gas development and the strategic monetization of gas reserves” stated Minister of Mines and Hydrocarbons H.E. Gabriel Mbaga Obiang Lima. “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.”

The Minister added, “We look forward to a long and productive relationship with Shell and anticipate further cooperation on a range of oil and gas initiatives.”

Closing ceremony for the Portuguese course for Equatoguinean officials

146757627804/07/2016 This weekend in Lisbon he Equatorial Guinea Ambassador to the Community of Portuguese Language Countries (CPLP), Tito Mba Ada, closed the course in the Portuguese language and culture, taken by ten Equatoguinean diplomatic officials.

After completing the course at the Faculty of Social and Human Sciences at the University of Lisbon, held within the framework of the protocol of cooperation signed between the Portuguese Minister for Foreign Affairs and the Equatorial Guinea Minister for Foreign Affairs and Cooperation, the diplomatic officials from our country received their corresponding diplomas.

The aim of the training is to enable officials in the Portuguese language as third official language, in order to work in the regional and international organisations, and in particular, in the CPLP.

Equatorial Guinea joined this community in July 2014, and since then has promoted the learning of Portuguese. The course was funded by the Equatorial Guinea Government, in collaboration with the Camões Institute for Cooperation and Language.

Text and photo: Clemente Ela Ondo Onguene (DGPWIGE)
Equatorial Guinea Press and Information Office

Notice: Reproduction of all or part of this article or the images that accompany it must always be done mentioning its source (Equatorial Guinea’s Press and Information Office).

Meeting of head of Finance and Budgets

The Minister of Finance and Budgets, Miguel Ndong Obiang, gave an account of the current economic situation on the country and indicated an improvement, despite the international economic crisis.


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Ministry of Finance and Budgets.
Ministry of Finance and Budgets.

The International Monetary Fund mission for Equatorial Guinea, in its annual meeting with the Ministry of Finance and Budgets, recognised the efforts of the Government in economic matters, within the context of the international economic crisis.

“The mission I hope to be able to carry out is a detailed analysis of the recent evolution of the economy and related issues, and finally make recommendations on economic policy”.

The head of this portfolio, Miguel Ndong Obiang, accompanied by other members of the Government, began the annual meeting to review the main economic results from the previous year, and pointed out the most notable macroeconomic figures.

“I am pleased to report that in 2015 the goals were widely achieved…and the strong adjustment to public finances resulted in a smaller deficit than had been predicted, and represented 50% with respect to the deficit from 2014″.

Along these lines, the minister outlined the efforts made by the President of the Republic, H. E. Obiang Nguema Mbasogo, to promote growth and national development.

Institutional Web Page General Directorate ((DPGWIGE)
Equatorial Guinea Press and Information Office

Notice: Reproduction of all or part of this article or the images that accompany it must always be done mentioning its source (Equatorial Guinea’s Press and Information Office).

 

Head of State to receive the title of Doctor Honoris Causa in Town Planning and Architecture

The President of the Republic is soon to receive another Doctor Honoris Causa degree, on this occasion in Town Planning and Architecture, awarded by the African School of Architecture and Town Planning, in Togo. On Thursday 30th June, the delegation from the school was received in audience by the Minister for Town Planning, Reginaldo Asu Mangue.


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The Head of State, Doctor Honoris Causa in Town Planning and Architecture.

The aim of the meeting was to move forward with the preparation, together with the ministerial executive and the National University of Equatorial Guinea, for the award for H. E. Obiang Nguema Mbasogo.

The decision to award him this distinction was agreed at the administrative council of the African school. The visiting commission includes the vice-president of the administrative council.

Institutional Web Page General Directorate ((DPGWIGE)
Equatorial Guinea Press and Information Office

Notice: Reproduction of all or part of this article or the images that accompany it must always be done mentioning its source (Equatorial Guinea’s Press and Information Office).


Bill Higgs, COO, Ophir Energy – Interview at Africa Oil & Gas Assembly

Ophir 4615776321FLNG project on the West Coast. How companies are investing during the downturn. What opportunity represent Equatorial Guinea.
The Fortuna FLNG development will be Africa’s first deep-water independent FLNG project. The project entered FEED in July 2015 and FID is expected during 2016 with the first gas forecast for 2020. The field is expected to produce 2.2mmtpa and Ophir currently has an 80% working interest.

 

 

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