Equatorial Guinea to support local content in Uganda and recommends it joins OPEC

By Invest EG | Third Party Partner Press Release September 29, 2017

H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea, was a keynote attendee and speaker at the 3rd Uganda International Oil & Gas Summit, held on September 27-28, at the invitation of his counterpart Hon. Irene Muloni, Minister of Energy and Mineral Development of the Republic of Uganda.

The summit, located at the Serena Kampala Hotel, was attended by the entire oil and gas sector in Uganda as well as international stakeholders including oil and gas operating companies, local services companies, public entities, foreign investors and media, as well as Ugandan government officials, including the First Deputy Prime Minister of the Government of the Republic of Uganda.

H.E. Gabriel Mbaga Obiang Lima emphasized the importance of cooperation between the Republic of Equatorial Guinea and the Republic of Uganda as he addressed the audience. He called attention to the bilateral agreements between the two countries signed during state visits in 2017. The Minister urged African countries to cooperate for greater economic growth through the sharing of experience and transfer of technology.

“We want to urge the Government of the Republic of Uganda, the Ugandan authorities, companies, workers and the entire Ugandan people to put a lot of emphasis on the issue of national content. That is a priority in the development of the oil sector and of your country,” said the Minister. He pledged the government of Equatorial Guinea would support Uganda as it seeks to train and develop the local workforce. The Minister recommended that in order to sustainably and quickly develop its oil industry, Uganda should consider entering talks to join the Organization of the Petroleum Exporting Countries. A strong African presence on the table, said H.E. Obiang Lima, will shape the dialogue within OPEC.

After his attendance at the 3rd Uganda International Oil & Gas Summit, H.E. Gabriel Mbaga Obiang Lima plans to take part in the Ministerial Meeting of the Gas Exporting Countries Forum, chaired by Russia in 2017 as part of the Russian Energy Week Energy Efficiency and Energy Development International Forum. The forum takes place on 3-7 October 2017.

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