On Equatorial Guinea’s 50th anniversary of independence, H.E. President Teodoro Obiang Nguema Mbasogo looks back at the development of the oil and gas industry and its contribution to the national economy.
Africa Oil & Power met with H.E. President Teodoro Obiang Nguema Mbasogo on Monday for an interview covering Equatorial Guinea’s petroleum industry, as well as its relations with global partners and the topics of peace, security and education in the country. The interview will be published in full in the upcoming Africa Energy Series: Equatorial Guinea 2018 book.
“Our country was once the poorest on the continent but today, thanks to the petroleum industry, we are among the wealthiest. We can be proud of the fact that we have achieved that,” said H.E. President Obiang.
The President explained that, upon discovering oil, Equatorial Guinea’s approach to developing its resources had been based on consultation and long term planning, with the government and civil society discussing objectives and plans for the sector as part of a wider development agenda.
With this approach, Equatorial Guinea is now in the position to help other countries in Africa to develop their energy sectors, said the President. Recent efforts to reach out to African neighbors complement Equatorial Guinea’s long-term policy of carefully balancing the interests of foreign government partners and investors from the US, China, Russia and other nations.
“We do not want divergences because they do not contribute to anything. Traditionally the world was divided between the East and the West, but we don’t think this is favorable for developing countries like Equatorial Guinea.”
Greater education in all subjects, but particularly oil and gas management, is stated as a priority for the Obiang administration, as part of the President’s set of goals to make Equatorial Guinea more self sufficient in all areas of the economy. “We are where we are right now due to the fact that we have offered the right education to our youth,” said the President.
The Africa Energy Series: Equatorial Guinea 2018 book will contain the interview of H.E. President Obiang in full, as well as interviews with the Minister of Mines and Hydrocarbons and all the international and local investors in Equatorial Guinea’s petroleum sector. It will be launched at the AOP Investor Forum in London on May 10, 2018. Find out more and register for the conference here.