UAE and Equatorial Guinea hold working meeting on Petroleum Industry, OPEC and Africa Investments

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• Equatorial Guinea’s Minister of Mines and Hydrocarbons met with the UAE Minister of Energy and Industry in Abu Dhabi on March 25
• The ministers discussed continuing OPEC and non-OPEC collaboration and cross border investment between Equatorial Guinea and the UAE.
• Equatorial Guinea joined OPEC in 2017 and aims to include more African producers in the bloc.

Abu Dhabi, 26 March 2018 –Greater petroleum industry collaboration between the UAE and Equatorial Guinea, and between OPEC nations in the Middle East and Africa, was on the agenda for Equatorial Guinea’s Minister of Mines and Hydrocarbons as he arrived in Abu Dhabi this weekend. H.E. Gabriel Mbaga Obiang Lima, Presidential Adviser of Hydrocarbons Fidel Obama and Director General of national oil company GEPetrol Antonio Oburu Ondo. met with Emirati Minister of Energy and Industry H.E. Suhail Al Mazroui, for bilateral ministerial talks on March 25.

 

The ministers discussed the role of Equatorial Guinea and African nations in OPEC; the state of the coalition between OPEC and non-OPEC members to rein in oil production; and investment by UAE and Middle Eastern entities in Equatorial Guinea.

 

The ministers also discussed joint gas monetization in Equatorial Guinea, asset acquisition and development of energy infrastructure in the country.  H.E. Gabriel Mbaga Obiang Lima met with Dr. Bakheet Al Katheeri, CEO of Mubadala Petroleum, and Mazin Rashid Nasser Al Lamki, COO of Mubadala Petroleum, and held discussions on collaboration with Equatorial Guinea entities.

 

H.E. Gabriel Mbaga Obiang Lima said: “Equatorial Guinea is making every effort to create stronger ties between us and our OPEC partners, and other oil producers in the Middle East and Africa. It’s important that we continue the remarkable collaborative work that we initiated in 2017 with OPEC and non OPEC countries to stabilize the market. Cross border investments between the UAE and African nations are an important part of this. I enjoyed productive discussions with His Excellency the Minister and with the leadership of Mubadala Petroleum.”

 

Equatorial Guinea joined OPEC in 2017 and the Ministry of Mines and Hydrocarbons has stated its intention to bring more African nations into the bloc as members and observers. H.E. Gabriel Mbaga Obiang Lima has held several meetings with ministers of petroleum and energy in the Middle East in order to attract investment to landmark projects in Equatorial Guinea and to grow Equatorial Guinea’s role as a center for energy diplomacy, investment, trading and technology in Africa