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Russian companies eye oil and gas projects in Equatorial Guinea — Energy Ministry

The parties are also considering the introduction of industry standards of the Institute of Oil and Gas Technological Initiatives for equipment and technology

MOSCOW, April 7. /TASS/. Russian companies are interested in developing projects in the oil and gas sector in Equatorial Guinea, the Russian Energy Ministry reported following a meeting between Deputy Minister Roman Marshavin and the Ambassador of the African country Ndong Ayekaba.

"The Deputy Minister noted that Russian companies are interested in developing projects in the oil and gas sector in the republic," the ministry said.

The parties are also considering the introduction of industry standards of the Institute of Oil and Gas Technological Initiatives for equipment and technology.

They also touched upon training personnel for the republic's energy sector. The African side expressed interest in organizing training programs at Russian universities.

"Many countries are turning to Russia to train personnel in the energy sector. Despite the fact that Russia already trains a significant number of students, the need for personnel is much greater," Roman Marshavin said.

Russian oil and gas companies and Equatorial Guinea

Earlier, the country's Minister of Mining and Hydrocarbons Antonio Oburu Ondo said that the country was interested in attracting partners from Russia to develop oil and diamond deposits. According to him, Equatorial Guinea is counting on the interest of Lukoil and other Russian oil and gas companies in oil projects in the country.

The minister noted that Lukoil participated in the licensing round for sites in Equatorial Guinea in 2019, but it was unsuccessful for all companies. In addition, that year Lukoil and Rosgeo signed memorandums of understanding with the Ministry of Mining and Hydrocarbons of Equatorial Guinea.

Reportedly, Rosneft, Lukoil and Gazprom were interested in the project to develop the Fortuna gas field.