Equatorial Guinea’s Ministry of Mines and Hydrocarbons announced a new measure on Thursday that seeks to drive participation of the national workforce in the oil and gas industry and translate the country’s economic recovery into local job creation.
Ministerial Order 1/2020 establishes the period by which companies can employ foreign labor in the oil and gas sector as three years. The General Directorate of National Content will oversee companies’ compliance with the law.
“With the release of this new order, the Ministry of Mines and Hydrocarbons intends to enhance the capacity of local service companies while guaranteeing the creation of local jobs for our trained and educated youth,” said H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons.
While Equatorial Guinea continues to seek foreign direct investment in several of its capital-intensive energy projects through its 2020 Year of Investment campaign, the country is simultaneously prioritizing the procurement of local goods and services and the stimulation of local jobs. The legislation follows the completion of effective capacity building and training programs conducted by local companies throughout the country.
Earlier this month, the Minister spoke about the mandate to national companies to take advantage of the opportunity created by COVID-19.
“This pandemic is an opportunity for the African continent,” said H.E. Lima. “For the first time, we may have to operate our installations ourselves. Expatriates leaving the country creates a vacuum, and that vacuum needs to be filled by nationals. We don’t know how long Europe; the U.S. or Asia will be locked down. We can finally take charge of our industry – not only in the extraction of resources, but also in the refining and marketing of where our oil is going.”
