Last June, Mr Gabriel Mbaga Obiang Lima, then Minister of Mines, Industry and Energy, and since the recent allocation of industry and energy to another Ministry, Minister of Hydrocarbons and Natural Resources, announced the launching of a new licensing round by Equatorial Guinea for the award of any free blocks not currently under direct negotiations. The round must be concluded by June 2017 with the signing of production sharing contracts (PSCs) between the Ministry and the relevant companies and their ratification by the Head of state planned for the second half of 2017.
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