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Zarubezhgeologiya signed a contract for seismic surveys with Equatorial Guinea

Russian geological exploration companies Rosgeology, Zarubezhgeologiya and Yuzhmorgeologiya # nbsp; signed # nbsp; with the Ministry of mining and oil industry of Equatorial Guinea contracts for the first stage of seismic exploration in the Rio Muni river basin. These agreements are a continuation of the memorandum of understanding concluded by the parties in the framework of the Russia-Africa economic forum in October 2019.
According to the signed agreements, exploration activities will be carried out, which include preparation for the next stages of exploration, drilling and sampling. Russian experts will also start assessing the geological base located on the banks of the Rio Muni River.
According to the Minister of Mining and Oil Industry # nbsp; Gabriel Mbaga Obiyang Lim, # nbsp; “this campaign will help increase the potential of new deposits of crude oil, natural gas and other minerals in the Rio Muni River Basin. The cooperation between the Russian Federation and the Republic of Equatorial Guinea will have a positive impact on the development of the mining and oil industries in the country. ”
The Rio Muni River Basin is one of the most promising regions in Equatorial Guinea with mineral reserves, and with the support of Russia, the Rio Muni has every chance of becoming a major center for the extraction of energy raw materials.