Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Authorities and civil society in greater jonglei identify key security threats, ponder solutions

    January 27, 2023

    Ghana reaches deal with insurers on domestic debt exchange

    January 27, 2023

    Africa should complement FDI with intra-regional to boost intra-continental trade: Ghanaian official

    January 27, 2023
    Facebook Twitter Instagram
    • Home
    • About Us
      • Profile
      • The Team
      • Advertise
      • Media Kit
    • Contact Us
    • Regions
      • Ghana
      • Nigeria
      • Kenya
      • South Africa
      • Europe
      • United Kingdom
      • USA (North America)
    Trending
    • Authorities and civil society in greater jonglei identify key security threats, ponder solutions
    • Ghana reaches deal with insurers on domestic debt exchange
    • Africa should complement FDI with intra-regional to boost intra-continental trade: Ghanaian official
    • With new deep sea port, Nigeria’s focus turns to better road, rail connections
    • Somalia welcomes killing of IS leader
    • Towards free market: Africa’s ‘prosperity dialogue’ confronts many barriers
    • France to recall Burkina ambassador over tensions, as troops prepare to leave
    • US blocks entry to those ‘undermining’ Nigerian democracy
    0 Shopping Cart
    Facebook Twitter YouTube LinkedIn
    Africa BriefingAfrica Briefing
    Resources
    Support Us
    • News
    • Politics
    • Business
    • Energy
    • Technology
    • CryptoTech
      • Crypto News
      • Startups & Companies
      • Crypto Currencies
      • DeFi
      • Metaverse
      • NFTs
    • More
      • Videos
      • Opinion
    • Magazine
    Home » Equatorial Guinea sets out FDI hopes for 2021
    Energy

    Equatorial Guinea sets out FDI hopes for 2021

    Editorial StaffBy Editorial StaffDecember 18, 2020No Comments0 Views
    Facebook Twitter WhatsApp Telegram
    Share
    Facebook Twitter Telegram WhatsApp

    EQUATORIAL Guinea expects foreign direct investment in 2021 could reach $1.11bn, according to the energy ministry, while production is expected to increase.

    Companies have made firm commitments of $832.4 million, along with contingent investments of $370.6 million. Going into 2019, Equatorial Guinea set out plans for $2.4bn in investment. In 2020, it predicted FDI would reach $1bn.

    The Ministry of Mines and Hydrocarbons issued the forecasts following meetings in Malabo and Bata. The government took a conciliatory line on spending plans this year, in recognition of the industry’s challenges.

    In particular, the ministry approved extensions to plans. It approved companies to carry on working on studies this year, allowing drilling to be pushed back to the end of 2021 or into 2022.

    ‘Equatorial Guinea remains committed to providing an enabling environment for companies to operate in the country in good and bad times. We will continue to engage with all operators to make sure that the best measures are taken to support the recovery of upstream activities,’ said Minister of Mines and Hydrocarbons Gabriel Mbaga Obiang Lima.

    Covid-19 and the oil price crash have had an impact on Equatorial Guinea, which led to ‘considerable cuts’ in 2020 spending plans.

    Investment year

    2020, which the country designated the ‘Year of Investment’, was a success despite ‘challenging conditions,’ Obiang Lima said. He singled out modular refinery plans and gas-based manufacturing as playing a role in Equatorial Guinea’s recovery in 2021.

    The ministry’s statement highlighted plans for drilling this year in the Trident Energy-operated Block G.

    Trident began acquiring 4D seismic on Block G in January. The licence contains the Ceiba and Okume fields. The company expects results from the survey by the end of 2020. This will set up ‘new development opportunities in 2021 and beyond.’

    At the beginning of 2020, Equatorial Guinea set out plans to increase production by 20,000 barrels per day. It also planned to construct two modular refineries.

    Follow @BriefingAfrica on Twitter

    Follow @jonansah on Twitter

    Share. Facebook Twitter Telegram WhatsApp

    Related Posts

    Uganda commences first commercial oil drilling programme in Lake Albert

    January 24, 2023

    Italy can boost African gas imports, Eni CEO says

    January 24, 2023

    Nigeria seeks to overturn $11bn damages bill over failed gas project

    January 23, 2023
    Add A Comment

    Comments are closed.

    Top Posts

    Op-Ed: Qatar World Cup 2022 – prejudice, coordinated attacks and Western grandstanding

    November 4, 20222,401

    Sex tourism: The Gambia is fed up with UK grandmothers hunting for toy boys

    September 19, 20222,266

    Ghanaian architect of UK’s Black History Month honoured by prestigious British university

    December 12, 20221,195

    Nigerian appointed director of UN disarmament

    October 25, 20221,019
    Don't Miss
    News

    Authorities and civil society in greater jonglei identify key security threats, ponder solutions

    By Editorial StaffJanuary 27, 202310

    Participants at an UNMISS workshop in Bor discussed how to improve the protection of civilians…

    Ghana reaches deal with insurers on domestic debt exchange

    January 27, 2023

    Africa should complement FDI with intra-regional to boost intra-continental trade: Ghanaian official

    January 27, 2023

    With new deep sea port, Nigeria’s focus turns to better road, rail connections

    January 27, 2023
    Stay In Touch
    • Facebook
    • Twitter
    • YouTube
    • LinkedIn
    About Us
    About Us

    AfricaBriefing is a monthly magazine designed to provide news and information on Africa to Africans at home and abroad, and the wider global audience that has a committed interest in the continent’s political, economic and social developments.

    Facebook Twitter YouTube LinkedIn
    Our Picks

    Authorities and civil society in greater jonglei identify key security threats, ponder solutions

    January 27, 2023

    Ghana reaches deal with insurers on domestic debt exchange

    January 27, 2023

    Africa should complement FDI with intra-regional to boost intra-continental trade: Ghanaian official

    January 27, 2023
    Most Popular

    Op-Ed: Qatar World Cup 2022 – prejudice, coordinated attacks and Western grandstanding

    November 4, 20222,401

    Sex tourism: The Gambia is fed up with UK grandmothers hunting for toy boys

    September 19, 20222,266

    Ghanaian architect of UK’s Black History Month honoured by prestigious British university

    December 12, 20221,195
    © 2023 AfricaBriefing. Designed by KMG.

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
    Cookie SettingsAccept All
    Manage consent

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
    CookieDurationDescription
    cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
    cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
    cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
    cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
    cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
    viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
    Functional
    Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
    Performance
    Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
    Analytics
    Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
    Advertisement
    Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
    Others
    Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
    SAVE & ACCEPT