Rosgeo and the Ministry of Mines and Hydrocarbons of the Republic of Equatorial Guinea have made a Memorandum of Understanding today, within the Russia-Africa Economic Forum.
Sergey Gorkov, Director General, Chairman of the Board of Rosgeo, and Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons in the Republic of Equatorial Guinea, signed this document.
Under this Memorandum, the Parties will cooperate in the airborne geophysical operations, 2D and 3D regional seismic survey in transit and deep water offshore zones, processing and interpretation of seismic data (including gravity and magnetic survey, electrochemical and geochemical survey), engineering evaluation and other works.
"Zarubezhgeologia JSC, a subsidiary of Rosgeo, successfully worked in Equatorial Guinea as early as in the 1970s and laid the foundation for the Country's geological exploration industry," — Sergey Gorkov, Director General of Rosgeo. "The Memorandum provides the opportunity for our long-term cooperation in the field of geological explorations to discover high marketable mineral deposits."
"Rosgeo's return to Equatorial Guinea will considerably enhance our understanding of the Country's mineral resource base, open new prospects and increase our oil and gas reserves. It will also be a game changer for this nascent mining industry," — said Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons in the Republic of Equatorial Guinea.
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