Source: Ahora EG
Swiss multinational Trafigura has proposed a $2 billion loan to Equatorial Guinea for the development of the hydrocarbon sector. The proposal was presented by James Josling, Vice President of the company, to the Vice President of the Republic Teodoro Nguema Obiang Mangue and representatives of the Ministry of Mines and Hydrocarbons, the Treasury, as well as the state-owned companies Gepetrol and Sonagas.
During the meeting, Nguema Obiang Mangue detailed the Government's key projects, including crude oil production in the Block, which is currently being operated by Gepetrol, and also highlighted the EQ-27 gas project managed by Sonagas. Both projects are crucial to increasing oil and gas production and strengthening public companies in the sector.
Josling highlighted the country's potential and stability as attractive for investment.
Vice President Nguema Obiang Mangue has urged the ministries and companies involved to advance negotiations to formalize a memorandum of understanding with Trafigura in the near future.
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