This article was published on Year of Investment
State-owned Russian geological exploration company Rosgeo has deployed a preliminary team in Equatorial Guinea to commence work on a geological mapping project.
The project aims to analyze landscape conditions for geological surveying and prospecting; determine the scope of mapping drilling; research the possibility of mineralogical sampling of channel deposits; analyze technical conditions for the arrangement of geological camp in Rio Muni and conduct any additional scouting necessary to prepare for ensuing exploration processes.
“Upcoming exploration activities will provide the foundation for this next phase of growth in our industry and having Rosgeo on the ground gives us confidence and faith for a successful exploration campaign,” said H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons (MMH) of Equatorial Guinea.
The project follows the signing of a Memorandum of Understanding between Rosgeo and the MMH during the Russia-Africa Summit in October 2019, and of first exploration contracts with two subsidiaries of Rosgeo; JSC Zarubezhgeologia and JSC Yuzhmorgeologia, in May 2020. The service contracts initiated the first phase of seismic acquisition in transit zone, undertaken by JSC Yuzhmorgeologia, and state geological mapping in Equatorial Guinea’s mainland, Rio Muni, undertaken by JSC Zarubezhgeologia.
“This is a historic moment for Equatorial Guinea as we welcome once again long-standing partners of our country to explore onshore Rio Muni,” said H.E. Obiang Lima. “We expect this region of Equatorial Guinea to become a new natural resources hub both for onshore oil and gas operations but also for mining and minerals.”