Equatorial Guinea ties up with Shell on oil and gas
Equatorial Guinea’s Ministry of mines and hydrocarbons and Shell signed a memorandum of understanding to cooperate on a number of oil and gas-related projects.
With Shell’s acquisition of BG Group the company entered Equatorial Guinea where 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, the ministry said in a statement.
Minister of Mines and Hydrocarbons Gabriel Mbaga Obiang Lima noted that the government anticipates that it will build on the agreement with Shell with further cooperation on a range of oil and gas initiatives.