$2 bn investment to boost energy sector in Equatorial Guinea

2.4 billion dollars will be invested in the energy industry in Equatorial Guinea by US companies operating in the country. According to Gabriel Obiang Lima, Equatorial Guinea’s Minister of Mines and Hydrocarbons, 11 oil wells will be drilled by 2019. In September, he warned that the government could refuse to extend existing licences to oil companies unless they collectively invest a minimum of $2 billion in the country.