Equatorial Guinea capital-intensive projects open for investment in 2020 said Gabriel Obiang, minister for mines and hydrocarbons.
The capital- intensive projects include the construction of three oil refineries, liquefied petroleum gas strategic tanks, a Urea plant and the expansion of a compressed natural gas project.
Obiang said the 10 public-private, partnership-led projects will focus on downstream diversification and adding value to domestic crude production.
“2019 was a year in which we showed the world the potential of Equatorial Guinea. That was phase one. Phase two is the investment year. For many years, we have been exploiting our resources and exporting them, but now is the time that we get to the stage of processing,” he said during the sidelines of an international forum for gas exporting countries in the capital Malabo.
He added that midstream is going to be very important because they already have the resources with the country’s crude going to China and liquefied natural gas going to Asia.
Under the initiative the first project, there will be a construction of a 20,000-barrel per day (bpd) modular oil refinery which will refine crude from the Zafiro and Aseng fields into gasoline, kerosene and Jet 1, among other petroleum by-products.
The second modular refinery will be based next to Equatorial Guinea’s re-gasification and cement plants in Kogo and will produce 10,000-20,000 bpd.
A third refinery is planned to refine the gold being exploited in the country and the wider Central African region, it will also be in Kogo.
Other three projects in Bata, Kogo and Malabo will see the construction of state-owned and managed strategic tanks to refine and store gasoline, oil and liquefied petroleum gas.
Equatorial Guinea’s government also aims at constructing methanol to gasoline unit to meet the country’s domestic consumption, with the possibility of exporting to its neighbouring countries in the future.
Equatorial Guinea will also build a urea plant in Kogo to enable the processing and production of minerals, complementing the country’s recently held first mining licensing round and centralising the exploitation of minerals to the region surrounding Kogo.
The final project involves the country’s compressed natural gas (CNG) plant which includes a cooking gas bottling facility, a bus terminal and gas-powered bus fleet and upgraded road infrastructure. This is going to position Equatorial Guinea as the first country in Africa to use CNG for transport.