Russia’s state-owned geological company, Rosgeo, has successfully completed phase 1 of its geological mapping project in Equatorial Guinea’s Rio Muni, and plans to move onto phase 2 of the project.
The Ministry of Mines and Hydrocarbons signed two service contracts for the exploration program with Rosgeo’s subsidiaries, JSC Zarubezhgeologia and JSC Yuzhmorgeologia, in 2020. Under the contracts, JSC Zarubezhgeologia is performing survey works for state geological mapping, and JSC Yuzhmorgeologia is performing complex seismic acquisition in the transit zone of Rio Muni.
“The geological mapping project undertaken by Rosgeo in Rio Muni is not only a new pillar of energy cooperation between the Republic of Equatorial Guinea and the Russian Federation, but could also shape the future of our natural resources industry. Our mainland is one of the richest regions of the country for mining and minerals, which we have identified as strong sectors to diversify our economy and create jobs. We have also always believed in the onshore hydrocarbons potential of the region, and understanding its geology will prove extremely beneficial to support future oil and gas activities there, which could be carried out by local operators,” said H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons.