In an interview on CNBC Africa on June 6, H.E. Gabriel Mbaga Obiang Lima, Minister of Mines, Industry and Energy announced the launch of the EG Ronda 2016 licensing round and explained why now is the right time to invite companies to express interest in Equatoguinean acreages.

“The good news is that the slump is over. Prices are stable right now and we do believe that this is the best time to be able to start promoting acreage again,” said H.E. the Minister. “Our model PSC contracts are one of the most attractive in the region … [and] we have been focusing on investing all our resources on infrastructure and human resources”