Equatorial Guinea Presents Open Oil, Gas and Mining Licenses in Successful Roadshow in China

• EG
  Ronda Licensing Round Roadshow in China was met with tremendous success as over
  100 Chinese investors participate and discuss investment in oil, gas and
  minerals with the Ministry of Mines and Hydrocarbons’ delegation
• H.E.
  Gabriel Mbaga Obiang Lima thanks Chinese Embassy in Equatorial Guinea, African
  Energy Chamber and Ministry of Mines and Hydrocarbons staff for a
  highly-successful roadshow

BEIJING, CHINA – EQS – July 2^nd, 2019 – The Ministry of Mines and Hydrocarbons held a successful investment drive in
China with Chinese investors in an event organised by the Africa Energy Chamber
today in Beijing, China.

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The Ministry officials delivered presentations
on the current EG Ronda Licensing Rounds 2019 for oil & gas and mining
& minerals to a prestigious audience of Chinese investors and stakeholders.
Over 100 participants from the biggest Chinese energy companies, notably
including CMEC, CPP, CNOOC, PowerChina, Sinochem, Sinopec, Zhenhua Oil and
China Minmetals responded to Equatorial Guinea’s invitation to come and invest
in the country.

“The EG Ronda Roadshow in China is a
tremendous success. We have met with very serious investors who believe in the
immense hydrocarbons and mining potential of Equatorial Guinea and are ready to
invest, we will announce agreements very soon,” declared H.E. Gabriel Mbaga
Obiang Lima. “This will ensure additional investment into our oil & gas
sector, and more importantly help develop our mining and minerals industry and
create jobs.”

Equatorial Guinea showcased 27 oil
& gas blocks on offer under the EG Ronda Oil & Gas Licensing Round
2019, including EG-27 (former Block R) and EG-23 for appraisal and development.
It also offers an opportunity for exploration and mining companies worldwide to
apply for exploration rights in the Rio Muni area, which is highly prospective
in minerals such as gold, diamonds, base metals, iron ore and bauxite.

“The leadership H.E. President
Teodoro Obiang Nguema Mbasogo and the reforms of our government to provide a
stable regulatory framework and attractive business environment have been key
to attracting Chinese investors,” added H.E. Gabriel Mbaga Obiang Lima. “We
wish to thank everyone who made this roadshow a great success, including the
Chinese Embassy in Equatorial Guinea, the African Energy Chamber and all the
Ministry of Mines and Hydrocarbons staff.”

The bidding deadline for the EG Ronda
Licensing Round has been set for September 27^th, 2019. Winners will
be announced at the much-anticipated Gas Exporting Countries Forum’s 5^th
Gas Summit in Malabo on November 27^th, 2019.