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Friday, 3 February 2023

Equatorial Guinea Appoints Antonio Oburu Ondo as Minister of Mines and Hydrocarbons

...Gabriel Obiang Lima Moves to Minister of Finance, Economy and Planning


In a recent cabinet shuffle, Equatorial Guinea’s President, H.E. Teodoro Obiang Nguema Mbasogo, has appointed Antonio Oburu Ondo, former Managing Director of national oil company GEPetrol, as the Minister of Mines and Hydrocarbons, with Gabriel Mbaga Obiang Lima – current President of the Organization of Petroleum Exporting Countries and the Gas Exporting Countries Forum - moving to the Ministry of Economy and Planning.

With his appointment as Minister of Economy and Planning, H.E. Gabriel Mbaga Obiang Lima will focus on attracting more investment into a number of key sectors across Equatorial Guinea, driving rapid diversification and positioning the country as a globally competitive economy.

Meanwhile, Antonio Oburu Ondo will leverage his years of industry experience and know-how to continue driving the industry forward, demonstrating his resolve by getting various projects off the ground, driving new drilling campaigns and developing new gas plants. Having served as the Managing Director of GEPetrol, Ondo’s experience in the oil and gas industry will be instrumental as he leads the Ministry of Mines and Hydrocarbons towards realizing the country’s energy sector and broader national development agenda.

“Gabriel Mbaga Obiang Lima has done a great job as Minister of Mines and Hydrocarbons, and now as Minister of Economy and Planning, a new era of investment is in sight for Equatorial Guinea. Antonio Oburu Ondo has a long history as someone who understands the industry. As such, he will help keep the market stable and continue working on attracting the necessary hydrocarbon-focused investments into the country, building on the progress that has already been achieved in Equatorial Guinea,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber.

With over 1.1 billion barrels of proven crude oil reserves and 1.5 trillion cubic feet of natural gas, and with a slate of large-scale projects being developed under the country’s wider Gas Mega Hub initiative, Equatorial Guinea’s objectives to become a regional hydrocarbon processing hub are well underway, making clear the critical role oil and gas will continue to play in Africa. For his part, Gabriel Mbaga Obiang Lima has done an outstanding job in his capacity as Minister, progress which is set to endure under Antonio Oburu Ondo’s appointment.

“The Chamber looks forward to strengthening its relationship with Antonio Oburu Ondo in his new capacity as Minister of Mines and Hydrocarbons. We will continue to work closely with him as we have done in the past to help build a sustainable energy industry in Equatorial Guinea. The country is well on its way to becoming a global oil and gas hub, and at the Chamber, we will continue to make good on our promise to help drive new investment and development across the oil and gas value chain in Equatorial Guinea,” continued Ayuk, adding that, “Monetizing and maximizing Africa’s oil and gas reserves represents a critical way forward, especially during times of the energy transition, when Africa most needs industry expansion.”

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