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Sierra Leone, Equatorial Guinea sign oil exploration deal

Sierra Leone and Equatorial Guinea governments have signed an agreement to cooperate in oil and gas exploration.Representatives of the two governments on Monday signed the agreement in the form of a Memorandum of Understand that officials say will allow them share experiences to enable Sierra Leone realizes its dream of becoming a petroleum exporting nation.

The agreement entails exchange visits between the two countries. Officials said this is the result of a relationship initiated between by President Julius Maada Bio and his Bissau Guinean counterpart,
Teodoro Obiang Nguema Mbasogo, during a recent discussion.

The Director General at the Petroleum Directorate of Sierra Leone, Timothy Kabba, who signed on behalf of his government, said they hoped to use the oil and gas sector to achieve their development goals.

Mr Kabba said the MoU will allow the oil and gas industry of Sierra Leone was showing positive signs and that the country needed help to ensure it realizes its dream. “Equatorial Guinea is a nation that is mature in oil and gas exploration. We stand to benefit as a nation from your experiences and
lessons you have learnt so that we can in many ways avert the sneers that are always associated in exploration,” Mr Kabba said at the signing ceremony.

Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons, represented the Equatorial Guinea government at the signing ceremony in Freetown. He told journalists that it’s the wish of his president to establish cooperation between Sierra Leone and Equatorial Guinea.

“We have fulfilled his wish that we strengthen cooperation with Sierra Leone and Equatorial Guinea.  So I came here with a mandate to make sure that we can start a relationship with experience sharing,” he said.

He added: “We do believe that with the experience we have gained in oil and gas, we have a commitment as a brotherly African country to transmit that knowledge and experience to other African countries, the same way that other African countries gave it to us.”

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