Rosgeo to Start Operations in Equatorial Guinea

Sergey Gorkov, Director General y Presidente de la Junta de Rosgeo, y S.E. Gabriel Mbaga Obiang Lima, Ministro de Minas e Hidrocarburos de Guinea Ecuatorial, firmaron el documento

The Ministry of Mines and Hydrocarbons signed a Memorandum of Understanding with the Russian company on Wednesday.

Russian geological research company, Rosgeo and the Ministry of Mines and Hydrocarbons of signed a Memorandum of Understanding during the Russia- and Forum on Wednesday, to cooperate on exploration activities.

, Director-General and Chairman of the Board of Rosgeo, and H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of , jointly signed the document.

“Rosgeo’s subsidiary successfully operated in Equatorial in the 1970s and formed the basis for the country’s geological exploration industry,” said Gorkov. “The Memorandum signed today gives us opportunities for long-term cooperation in geological exploration,” he added.

According to the signed document, the parties will cooperate primarily in airborne geophysical operations, 2D and 3D regional seismic survey in transit and deepwater zones, the processing and interpretation of seismic data (including gravity/magnetic survey, electrochemical and geochemical studies), engineering studies and other works.

“Rosgeo’s return to Equatorial Guinea under this cooperation agreement will materially improve our understanding of the country’s subsurface, unlocking new prospectivity and boosting our oil and gas reserves. It will also be a game-changer for our nascent mining industry,” said Minister Obiang Lima.

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