THE OIL & GAS YEAR
The Oil & Gas Year, in partnership with the Ministry of Mines, Industry and Energy (MMIE) and Centurion Law Firm, conducted its fourth strategic roundtable for Equatorial Guinea in Malabo on Saturday May 21, 2016. The event was held at the Sofitel Sipopo hotel and golf course and was officially sponsored by Total and Lufthansa.
Speakers attending the event included keynote speaker H. E. Gabriel Obiang Lima, the Minister of Mines, Industry and Energy; Martin-Crisanto Ebe Mba, chairman at BANGE; Mercedes Eworo Milam, director-general of Hydrocarbons at the Ministry of Mines, Industry and Energy; NJ Ayuk, CEO of Centurion Law Group; Frank Ene, president of RoyalGate; Francisco Ndong, deputy manager at G3 Oleo e Gas; Rosendo Machimbo, country manager at Weatherford and Olivier Sabrie, country manager at Total, with TOGY’s Ioana Marins and Catherine Hirst as moderators.
The discussion, which was divided into two sessions, centred on developing a profitable, efficient oil and gas industry for the long-term. The first session discussed topics such as the partnership between the private sector and the government to encourage sustainable development in Equatorial Guinea, how the planned 2016 licensing round has been impacted by the drop in oil and gas prices and how everyone can co-ordinate to ensure that new and marginal prospects are developed in Equatorial Guinea. They also discussed how the 2014 national content regulation can foster the development of Equatoguinean companies, while also remaining attractive, transparent and consistent in the eyes of international companies. The second session revolved around developing a profitable, efficient oil and gas industry amid the price slump and the challenges as well as the opportunities this has brought for companies. In this time, they also discussed the progress of the downstream diversification vision PEGI 2020, and the continued focus on power generation and the development of the Bioko Oil Terminal.
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