RosGeo has signed the first contracts to start the works in Equatorial Guinea

According to the signed documents Zaruzhgeologiya will carry out the reconnaissance work necessary for further national mapping activities, and Yuzhmorgeologiya perform the reconnaissance for integrated seismic surveys in the transit zone of Rio Muni. The contracts are implemented to assess the conditions for basic geological exploration, identification the scope of drilling, sampling opportunities, analysis of technical capabilities for establishment of the geological base in Rio Muni, as well as other works necessary for preparation to the next stages of the geologic exploration.

“Russian geologists laid the foundation for survey and exploration in Equatorial Guinea in the 70-ies of the last century - said Sergey Gorkov, Director General - Chairman of the Board of RosGeo. - We are pleased to renew the successful cooperation between our countries and conduct the exploration activities in Equatorial Guinea at the highest professional level."

“These exploration activities will help to expand Rio Muni potential in terms of new oil, natural gas and mineral resources," said His Excellency Gabriel Maga Obiang Lima, Minister of Mines and Hydrocarbons. - Cooperation with RosGeo corresponds to the general atmosphere of relations between the Russian Federation and the Republic of Equatorial Guinea and will help to build up a strong geological exploration base in our country."

Rio Muni is one of the most promising areas for exploration in Equatorial Guinea, which could allow the country to become a major hub for mining of commercial deposits. Prospecting and discovery of new sources of minerals will allow the country to increase its oil and gas production, as well as confirm the additional reserves of key metals to diversify the economy of Equatorial Guinea.