The climate of both the continental region and the islands is typically equatorial, with high temperatures, HP 448007-001 battery
heavy rainfall, and much cloud cover most of the year. Local variations are due to differences in altitude and proximity to the sea. The wet seasons in the continental region are from February to June and from September to December. Rainfall is higher on the coast than inland. HP Pavilion DV7 battery
In Bata the rainiest months are September, October, and November, with rainfall averaging more than 94 in (2,388 mm) a year. At Calatrava, farther south on the coast, it sometimes reaches 180 in (4,572 mm). Inland, however, rainfall diminishes; Mikomeseng, for example, receives only about 58 in (1,473 mm). HP DV6-1120SA battery
The average annual temperature is about 79 °F (26.1 °C) and is fairly constant throughout the year. The temperature maxima are somewhat lower than in Bioko. The relative humidity, however, is higher than in Bioko. Bioko has a rather debilitating climate. The so-called dry season lasts from November to March, and the rest of the year is rainy. HP DV6-1210SA battery
The average annual temperature of about 77 °F (25 °C) varies little throughout the year. Afternoon temperatures reach the high 80s °F (low 30s °C) and drop to only about 70 °F (21.1 °C) at night. Most of the time the sky is cloudy and overcast. Extreme rainfall occurs in the south, with rain brought by monsoon winds amounting to about 450 in (11,430 mm) a year around San Antonio de Ureca. Compaq CQ50 battery
Terrain
Coastal plains rise to interior hills; islands are volcanic
Irrigated land: NA km²
Natural hazards: violent windstorms, flash floods
Environment - current issues: tap water is not potable; desertificationHP Pavilion DV8 battery
Environment - international agreements:
party to: Biodiversity, Desertification, Endangered Species, Law of the Sea, Ship Pollution
signed, but not ratified: none of the selected agreements
Geography - note: insular and continental regions rather widely separated Sony VGP-BPS13 battery
Pre-colonial history
The first inhabitants of the region that is now Equatorial Guinea are believed to have been Pygmies, of whom only isolated pockets remain in northern Rio Muni. Bantumigrations between the 17th and 19th centuries brought the coastal tribes and later the Fang. HP DV9700 battery
Elements of the latter may have generated the Bubi, who emigrated to Bioko from Cameroon and Río Muni in several waves and succeeded former Neolithic populations. It is said the Igbo of Nigeria (mostly Aro) slave traders arrived and founded very few tiny settlements in Bioko and Rio Muni which expanded the Aro Confederacy in the 18th and 19th centuries. Compaq CQ35-100 battery
The Annobón population, native to Angola, was introduced by the Portuguese via São Tomé.
The Portuguese explorer, Fernão do Pó, seeking a route to India, is credited with having discovered the island of Bioko in 1471. He called it Formosa ("beautiful [isle]", a name later applied to Taiwan), HP G62-228CL Battery
but it quickly took on the name of its European discoverer, albeit spelt "Fernando Po". The islands of Fernando Po andAnnobón were colonized by the Portuguese in 1474. The Portuguese retained control until 1778, when the island, adjacent islets, HP G62-229WM Battery
and commercial rights to the mainland between the Niger and Ogooué Rivers were ceded to Spain in exchange for territory in South America (Treaty of El Pardo).
From 1827 to 1843, Britain established a base on the island to combat the slave trade. The mainland portion, Río Muni, became a protectorate in 1885 and a colony in 1900. HP G62-251TU Battery
Conflicting claims to the mainland were settled in 1900 by the Treaty of Paris, and periodically, the mainland territories were united administratively under Spanish rule. Between 1926 and 1959 they were united as the colony of Spanish Guinea. During the First World War, German troops retreated into this territory fromKamerun because Spain was neutral during the war. HP G62-251XX Battery
Colonial era
Spain developed large cacao plantations for which thousands of Nigerian workers were imported as laborers.
At the beginning of the Spanish Civil War the colony remained loyal to the Republican government. On July 24, 1936, the Republican cruiser Méndez Núñez arrived atSanta Isabel; HP G62-550EE Battery
on its way back to Spain the officers planned to join the rebellion, but the Spanish government, knowing this, ordered the ship to go back to the colony; on August 14 the Méndez Núñez was back in Fernando Poo, where the sailors took control of her; on September 21 the ship arrived in Málaga (Republican Spain). HP G62-A00EF Battery
HP G62-A10EV Battery
On September 19 the Colonial Guard and the Civil Guard began the rebellion and took control of the island of Fernando Poo, while the rest of the colony remained loyal to the Republic. On September 22 a clash took place between a rebel group from Kogo and a loyal detachment from Bata. HP G62-A16SL Battery
Finally, on October 14 a force of 200 rebels arrived in the merchant Ciudad de Mahón and took control of Bata and the rest of the colony.
In 1959, the Spanish territory of the Gulf of Guinea was established with the same status as the provinces of metropolitan Spain. HP G62-A20ER Battery
As the Spanish Equatorial Region, it was ruled by a governor general exercising military and civilian powers. The first local elections were held in 1959, and the first Equatoguinean representatives were seated in the Cortes Generales (Spanish parliament). HP G62-A23EE Battery
Under the Basic Law of December 1963, limited autonomy was authorized under a joint legislative body for the territory's two provinces. A paradoxical effect of this autonomy was that Guineans could choose among several political parties while metropolitan Spaniards were under a single party regime. HP G62-A30ER Battery
The name of the country was changed to Equatorial Guinea. Although Spain's commissioner general had extensive powers, the Equatorial Guinean General Assembly had considerable initiative in formulating laws and regulations. HP G62-A40ER Battery
Independence
In March 1968, under pressure from Equatoguinean nationalists and the United Nations, Spain announced that it would grant independence to Equatorial Guinea. A constitutional convention produced an electoral law and draft constitution. HP G62-A45EE Battery
In the presence of a UN observer team, a referendum was held on August 11, 1968, and 63% of the electorate voted in favor of the constitution, which provided for a government with a General Assembly and a Supreme Court with judges appointed by the president.
In September 1968, Francisco Macías Nguema was elected first president of Equatorial Guinea, and independence was granted in October. HP G62-A46EE Battery
At independence, Equatorial Guinea had one of the highest per capita incomes in Africa (332 USD). The Spanish also helped Equatorial Guinea achieve one of the continent's highest literacy rates and developed a good network of health care facilities. However at the time of independence, the number of native doctors and lawyers was in the single digits.[1] HP G62-A53EE Battery
In July 1970, Macias created a single-party state and by May 1971, key portions of the constitution were abrogated. In 1972 Macias took complete control of the government and assumed the title of President for Life. HP G62T-100 Battery
The Macias regime was characterized by abandonment of all government functions except internal security, which was accomplished by terror; this led to the death or exile of up to one-third of the country's population. Due to pilferage, ignorance, and neglect, the country's infrastructure—electrical, water, road, transportation, and health—fell into ruin. HP G62T-100 CTO Battery
Religion was repressed, and education ceased. The private and public sectors of the economy were devastated. Nigerian contract laborers on Bioko, estimated to have been 60,000, left en masse in early 1976. The economy collapsed, and skilled citizens and foreigners left. HP G62-200 Battery
All schools were ordered closed in 1975, and the country's churches were closed in 1978. Nguema introduced a campaign of 'authenticity', replacing colonial names with native ones: the capital Santa Isabel became Malabo, the main island of Fernando Po was renamed Masie Nguema Biyogo after himself, and Annobón became Pagalu. HP G62-200XX Battery
As part of the same process, Nguema also ordered the entire population to drop their European names and adopt African ones. His own name underwent several transformations, so that by the end of his rule he was known as Masie Nguema Biyogo Ñegue Ndong. HP G62-201XX Battery
In August 1979 Macias' nephew from Mongomo and former director of the infamous Black Beach prison, Teodoro Obiang Nguema Mbasogo, led a successful coup d'état; Macias was arrested, tried, and executed. Obiang assumed the Presidency in October 1979. HP G62-219WM Battery
The islands were renamed Bioko and Annobón. The new ruler faced the challenge of restoring order in a country that was in shambles—by the end of Masie Nguema's dictatorship, the state coffers were empty and the population had been reduced to only one-third of what it was at independence. HP G62-220US Battery
1990s-2000s
Although President Obiang signed a national anti-torture decree in 2006 to ban all forms of abuse and improper treatment in Equatorial Guinea and commissioned the renovation and modernization of Black Beach prison in 2007 to ensure the humane treatment of prisoners,[2] human rights abuses continue. HP G62-225DX Battery
Human Rights Watch andAmnesty International among other non-governmental organizations have documented severe human rights abuses in prisons, including torture, beatings, unexplained deaths and illegal detention.[3][4] HP G62-226NR Battery
According to a March 2004 BBC profile,[5] politics within the country are dominated by tensions between Obiang's son, Teodorin, and other close relatives with powerful positions in the security forces. The tension may be rooted in power shift arising from the dramatic increase in oil production which has occurred since 1997. HP G62-227CL Battery
The unsuccessful "Wonga Coup" was attempted by European and South African mercenaries in 2004 with the goal of replacing Obiang with a puppet ruler who would open the country's mineral wealth to the plotters. British aristocrat Simon Mann, a former officer in the Special Air Service, HP G62-140SF Battery
led the plot, which also included former members of the South African Army 32 Battalion. Financial backers included Sir Mark Thatcher, son of former British Prime Minister Margaret Thatcherand possibly the British novelist Jeffrey Archer. HP G62-140SS Battery
Somewhere between $3 million and $20 million was expended on the failed coup, which is said to have had the tacit support of some Western governments and international corporations.[6]
In 2011 the government announced it was planning a new capital in the country, named Djibloho. HP G62-140US Battery
Equatorial Guinea is a small country at the west coast of Central Africa. Despite a per capita GDP (PPP) of more than US$30,000 [3] (CIA Factbook $50,200[4]) which is as of 2008 the twentieth highest in the world, Equatorial Guinea ranks 121st out of 177 countries on the United Nations Human Development Index. HP G62-143CL Battery
Economy overview
Pre-independence Equatorial Guinea counted on cocoa production for hard currency earnings. In 1959 it had the highestper capita income of Africa.
The discovery of large oil reserves in 1996 and its subsequent exploitation have contributed to a dramatic increase in government revenue. HP G62-144DX Battery
As of 2004,[5] Equatorial Guinea is the third-largest oil producer in Sub-Saharan Africa. Its oil production has risen to 360,000 barrels per day (57,000 m3/d), up from 220,000 barrels per day (35,000 m3/d) only two years earlier.
Forestry, farming, and fishing are also major components of GDP. HP G62-145NR Battery
Subsistence farming predominates. Although pre-independence Equatorial Guinea counted on cocoa production for hard currency earnings, the neglect of the rural economy under successive regimes has diminished potential for agriculture-led growth. However, the government has stated its intention to reinvest some oil revenue into agriculture. HP G62-147NR Battery
A number of aid programs sponsored by the World Bank and the IMF have been cut off since 1993 because of corruption and mismanagement. No longer eligible for concessional financing because of large oil revenues, the government has been unsuccessfully trying to agree on a "shadow" fiscal management program with the World Bank and IMF. HP G62-149WM Battery
Businesses, for the most part, are owned by government officials and their family members. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold (Mining in Equatorial Guinea). Growth remained strong in 2005 and 2006, led by oil. HP G62-150EF Battery
2004 US senate report
A Senate report [6] in 2004 found that Riggs Bank helped top officials of Equatorial Guinea steal hundreds of millions of dollars in oil revenues. The Senate Permanent Subcommittee on Investigations probed the corruption case involving Equatorial Guinea and its oil revenues for much of the past year. HP G62-150EQ Battery
The panel's report found that Riggs Bank helped government leaders in Equatorial Guinea siphon oil revenues to accounts set up for them in Washington. Equatorial Guinea has been cited by the U.S. State Department for human rights abuses, corruption, and diversion of oil revenues to government officials. HP G62-150ET Battery
Beginning in 1995 until 2004, Riggs oversaw as many as 60 accounts containing as much as $700 million, making Equatorial Guinea its largest single customer. Some were government accounts, while others were the private accounts of President Teodoro Obiang Nguema, other government officials, and their families. HP G62-150EV Battery
The Senate report says millions of dollars in the government accounts, which should have gone to help impoverished Equatorial Guineans, were instead funneled to off-shore tax shelters, with help from Riggs officials.
At a hearing on the matter at which current and former bank officials appeared, HP G62-150SE Battery
Senator Carl Levin, a Michigan Democrat, was clearly outraged. "Somehow there has to be a conscience here. Aren't you troubled?," he said.
The report describes one incident in which the bank manager of the country's accounts, Simon Kareri, HP G62-150SF Battery
brought a 27 kilogram suitcase with $3 million in plastic-wrapped cash to Riggs's Dupont Circle branch to make a deposit into President Obiang's account. Mr. Kareri, who was fired in January, refused to testify at the hearing," he said. HP G62-150SL Battery
"Mr. Chairman, there is nothing I would like to do more than answer your questions today. However, I must heed the advice of my counsel and invoke my fifth amendment rights under the Constitution and refuse to answer the question," he said. HP G62-153CA Battery
Senators were angered that bank officials never reported any suspicious financial transactions involving Equatorial Guinea.
Lawrence Hebert, president and chief executive officer of Riggs Bank, blamed a lack of an internal system to monitor and identify such suspicious activity. HP G62-154CA Battery
It is an assertion that Senator Levin found ridiculous.
"First of all Mr. Hebert, you do not need a computer system to realize suspicious activity when you have sixty pounds of cash that are being walked into the door with a suitcase," he said.
Mr. Levin criticized bank regulators for not doing enough in their oversight responsibility. HP G62-165SL Battery
Riggs was fined a record $25 million by federal banking regulators for allegedly failing to report suspicious transactions made to the Equatorial Guinea accounts, but that didn't happen until May 2004.
Senator Levin also took aim at oil companies that are doing business in Equatorial Guinea, many of which have secret contracts with firms that have ties to President Obiang. HP G62-166SB Battery
The London-based organization Global Witness notes that the Senate committee report found that oil companies made payments into the personal accounts of Equatorial Guinean officials that were used for land purchases, office leases, and even education for the children of the country's leaders. HP G62-120EP Battery
With oil money stashed away in Riggs Bank for the ruling elite of Equatorial Guinea, argues Sarah Wykes of Global Witness, oil companies cannot make the case that they are a force for positive change in the country.
"Equatorial Guinea is now the third largest producer of oil in sub-Saharan Africa," she said. HP G62-120EQ Battery
"It has been called the 'Kuwait of Africa' But it is clear that since oil came on stream, the human development indicators of the country have actually gone backward, so we can say the oil money is not contributing to development at all," she said.
Equatorial Guinea responded with an 82-point report claiming that the Senate had been "duped" by "pressure groups",HP G62-120ES Battery
naming specifically a $40,000 contract between a lobbying group and Severo Moto Nsa, an EquatoGuinean living in self-imposed exile who uses his website to make wild accusations against Obiang.[8] The rebuttal also claims that the payments to government members were disclosed in the government accounts and were not illegal. HP G62-120ET Battery
In greater depth
Oil and gas exports have increased substantially (in 2003 Equatorial Guinea was ranked third among Sub-Sahara African producers behind Nigeria and Angola) and will drive the economy for years to come. HP G62-120EY Battery
The GDP increased by 105.2% in 1997, and real GDP growth reached 23% in 1999, and initial estimates suggested growth of about 15% in 2001, according to IMF 2001 forecast. Per capita income grew from about $1,000 in 1998 to about $2,000 in 2000. The energy export sector is responsible for this rapid growth. HP G62-120SE Battery
Oil production has increased from 81,000 barrels per day (12,900 m3/d) to 210,000 barrels per day (33,000 m3/d) between 1998 and early 2001. There is ongoing additional development of existing commercially viable oil and gas deposits as well as new exploration in other offshore concessions. HP G62-120SL Battery
Equatorial Guinea has other largely unexploited human and natural resources, including a tropical climate, fertile soils, rich expanses of water, deepwater ports, and an untapped, if unskilled, source of labor. Following independence in 1968, the country suffered under a repressive dictatorship for 11 years, which devastated the economy. HP G62-120SS Battery
The agricultural sector, which historically was known for cocoa of the highest quality, has never fully recovered. In 1969 Equatorial Guinea produced 36,161 tons of highly bid cocoa, but production dropped to 4,800 tons in 2000. Coffee production also dropped sharply during this period to bounce back to 100,000 metric tons in 2000. HP G62-120SW Battery
Timber is the main source of foreign exchange after oil, accounting for about 12.4% of total export earnings in 1996-99. Timber production increased steadily during the 1990s; wood exports reached a record 789,000 cubic meters in 1999 as demand in Asia (mainly China) gathered pace after the 1998 economic crisis. HP G62-121EE Battery
Most of the production (mainly Okoume) goes to exports, and only 3% is processed locally. Environmentalists fear that exploitation at this level is unsustainable and point out to the permanent damage already inflicted on the forestry reserves on Bioko. HP G62-125EK Battery
Consumer price inflation has declined from the 38.8% experienced in 1994 following the CFA franc devaluation, to 7.8% in 1998, and 1.0% in 1999, according to BEAC data. Consumer prices rose about 6% in 2000, according to initial estimates, and there was anecdotal evidence that price inflation was accelerating in 2001. HP G62-125EL Battery
Equatorial Guinea's policies, as defined by law, comprise an open investment regime. Qualitative restrictions on imports, non-tariff protection, and many import licensing requirements were lifted when in 1992 the government adopted a public investment program endorsed by the World Bank. HP G62-125EV Battery
The Government of the Republic of Equatorial Guinea has sold some state enterprises. It is attempting to create a more favourable investment climate, and its investment code contains numerous incentives for job creation, training, promotion of non-traditional exports, support of development projects and indigenous capital participation, HP G62-125SL Battery
freedom for repatriation of profits, exemption from certain taxes and capital, and other benefits. Trade regulations have been further liberalized since implementation in 1994 of the ICN turnover tax, in conformity with Central African tax and custom reform codes. The reform included elimination of quota restrictions and reductions in the range and amounts of tariffs. HP G62-130EG Battery
The CEMAC countries agreed to replace the ICN with a value added tax (VAT) in 1999.
While business laws promote a liberalized economy, the business climate remains difficult. Application of the laws remains selective. Corruption among officials is widespread, and many business deals are concluded under non-transparent circumstances. HP G62-130EK Battery
There is little industry in the country, and the local market for industrial products is small. The government seeks to expand the role of free enterprise and to promote foreign investment but has had little success in creating an atmosphere conducive to investor interest. HP G62-130ET Battery
The Equato-Guinean budget has grown enormously in the past 3 years as royalties and taxes on foreign company oil and gas production have provided new resources to a once poor government. The 2001 budget foresaw revenues of about 154 billion CFA francs (154 GCFAF) (about U.S.$200 million), up about 50% from 2000 levels. HP G62-130EV Battery
Oil revenues account for about two-thirds of government revenue, and VAT and trade taxes are the other large revenue sources.
Year 2001 government expenditures were planned to reach 158 billion CFA francs, up about 50% from 2000 levels. HP G62-130SD Battery
New investment projects represented about 40% of the budget, and personnel and internal and external debt payments represented about one-third of planned expenditures.
The Equato-Guinean Government has undertaken a number of reforms since 1991 to reduce its predominant role in the economy and promote private sector development. HP G62-130SL Battery
Its role is a diminishing one, although many government interactions with the private sector are at times capricious. Beginning in early 1997, the government initiated efforts to attract significant private sector involvement through a Corporate Council on Africa visit and numerous ministerial efforts. HP G62-134CA Battery
In 1998, the government privatized distribution of petroleum products. There are now Total and Mobil stations in the country. The government has expressed interest in privatizing the outmoded electricity utility. A French company operates cellular telephone service in cooperation with a state enterprise. HP G62-135EV Battery
The government is anxious for greater U.S. investment, and President Obiang visited the U.S. three times between 1999 and 2001 to encourage greater U.S. corporate interest. Investment in agriculture, fishing, livestock, and tourism are among sectors the government would like targeted. HP G62-140EF Battery
Equatorial Guinea's balance-of-payments situation has improved substantially since the mid-1990s because of new oil and gas production and favorable world energy prices. Exports totaled about francs CFA 915 billion in 2000 (1.25 G$US), up from CFA 437 billion (700 M$US) in 1999. Crude oil exports accounted for more than 90% of export earnings in 2000. HP G62-140EL Battery
Timber exports, by contrast, represented only about 5% of export revenues in 2000. Additional oil production coming on line in 2001, combined with methanol gas exports from the new CMS-Nomeco plant, should increase export earnings substantially.
Imports into Equatorial Guinea also are growing very quickly. HP G62-140EQ Battery
Imports totaled francs CFA 380 billion (530 M$US), up from franc CFA 261 million (420 M$US) in 1999. Imports of equipment used for the oil and gas sector accounted for about three-quarters of imports in 2000. Imports of capital equipment for pHP G62-140ES Battery
ublic investment projects reached francs CFA 30 billion in 2000, up 40% from 1999 levels.
Equatorial Guinea's foreign debt stock was approximately francs CFA 69 billion (100 M$US) in 2000, slightly less than the debt stock in 1999, according to BEAC data. Equatorial Guinea's debt service ratio fell from 20% of GDP in 1994 to only 1% in 2000. HP G62-140ET Battery
Foreign exchange reserves were increasing slightly, although they were relatively low in terms of import coverage. According to the terms of the franc CFA zone, some of these reserves are kept in an account with the French Ministry of Finance.
HP G62-110SA Battery
Equatorial Guinea in the 1980s and 1990s received foreign assistance from numerous bilateral and multilateral donors, including European countries, the United States, and the World Bank. Many of these aid programs have ceased altogether or have diminished. HP G62-110SO Battery
Spain, France, and the European Union continue to provide some project assistance, as do China and Cuba. The government also has discussed working with World Bank assistance to develop government administrative capacity.
Equatorial Guinea operated under an IMF-negotiated Enhanced Structural Adjustment Facility (ESAF) until 1996. HP G62-110SS Battery
Since then, there have been no formal agreements or arrangements. The International monetary Fund held Article IV consultations (periodic country evaluations) in 1996, 1997, and in August 1999. After the 1999 consultations, IMF directors stressed the need for Equatorial Guinea to establish greater fiscal discipline, accountability, HP G62-110SW Battery
and more transparent management of public sector resources, especially energy sector revenue. IMF officials also have emphasized the need for economic data. In 1999, the Equato-Guinean Government began attempting to meet IMF-imposed requirements, maintaining contact with IMF and the World Bank representatives. HP G62-111EE Battery
However, the new found oil wealth allowed the government to avoid improving fiscal discipline, transparency and accountability.
Infrastructure
Infrastructure is generally old and in poor condition. Surface transport is extremely limited at present, with little more than 700 kilometres of paved roads. HP G62-112EE Battery
The African Development Bank is helping to improve the paved roads from Malabo to Luba and Riaba; the Chinese are undertaking a project to link Mongomo to Bata on the mainland, and the European Union is financing an inter-states road network linking Equatorial Guinea to Cameroon and Gabon. Road maintenance is often inadequate. HP G62-112SO Battery
Electricity is available in Equatorial Guinea's larger towns thanks to three small overworked hydropower facilities and a number of aged generators. In 1999, national production was about 13 MWh. In Malabo, the American company, CMS-Nomeco, built a 10 megawatt electricity plant financed by the government, HP G62-113SO Battery
which came in line in mid-2000, and plans to double capacity are advancing. This plant provides improved service to the capital, although there are still occasional outages. On the mainland the largest city, Bata, still has regular blackouts.
Water is only available in the major towns and is not always reliable because of poor maintenance and mismanagement. HP G62-115SE Battery
Some villages and rural areas are equipped with generators and water pumps, usually owned by private individuals.
Parastatal Getesa, a joint venture with a minority ownership stake held by a French subsidiary of France Telecom, provides telephone service in the major cities. HP G62-115SO Battery
The regular system is overextended, but France Telecom has introduced a popular GSM system, which is generally reliable in Malabo and Bata.
Equatorial Guinea has two of the deepest Atlantic seaports of the region, including the main business and commercial port city of Bata. HP G62-117SO Battery
The ports of both Malabo and Bata are severely overextended and require extensive rehabilitation and reconditioning. The British company, Incat, has an ongoing project with the government to renovate and expand Luba, the country's third-largest port which is located on Bioko Island. HP G62-118EO Battery
The government hopes Luba will become a major transportation hub for offshore oil and gas companies operating in the Gulf of Guinea. Luba is located some 50 kilometres from Malabo and had been virtually inactive except for minor fishing activities and occasional use to ease congestion in Malabo. HP G62-120EC Battery
A new jetty is also being built at km 5 on the way from Malabo to the airport. It is a project mainly supposed to service the oil industry, but can also relieve the congested Malabo Port due to its closeness. The Oil Jetty at km 5 was supposed to open the end of March 2003. Riaba is the other port of any scale on Bioko but is less active. HP G62-120EE Battery
The continental ports of Mbini and Cogo have deteriorated as well and are now used primarily for timber activities.
There are both air and sea connections between the two cities of Malabo and Bata. A few aging Soviet-built aircraft operated by several small carriers, one state-owned, and the others private, HP G62-120EG Battery
constitute the national aircraft fleet. The runway at Malabo (3,200 m) is equipped with lights and can service equipment similar to DC 10s and Cl3Os. The one at Bata (2,400 m) does not operate at night but can accommodate aircraft as large as B737s. Their primary users are the national airline (EGA) and a private company (GEASA). HP G62-120EH Battery
Two minor airstrips (800 m) are located at Mongomo and Annobon. There are international connections out of Malabo to Madrid and Zurich in Europe and to Cotonou, Douala and Libreville in West Africa.
Energy developments
After a slow start, Equatorial Guinea has recently emerged as a major oil producer in the Gulf of Guinea, HP G62-120EK Battery
one of the most promising hydrocarbon regions in the world. The main oil fields, Zafiro and Alba, are both located offshore of Bioko island. In 1999 oil production was about five times its 1996 level; Zafiro Field, operated by Exxon Mobil and Ocean Energy, produced about 100,000 barrels per day (16,000 m3/d), HP G62-120EL Battery
and CMS Nomeco extracted approximately 6,700 barrels per day (1,070 m3/d). Aggressive field development and promising exploration activities may raise production to nearly 300,000 barrels per day (48,000 m3/d) within 2–3 years (slightly above the current estimated production of Gabon) according to the official sources. HP G62-100 Battery
In 1995 Mobil (now Exxon Mobil) discovered the large Zafirobbbb field, with estimated reserves of 400,000,000 barrels (64,000,000 m3). Production began in 1996. The company announced a 3-year U.S.$1bn rapid development program to boost output to 130,000 barrels per day (21,000 m3/d) by early 2001. HP G62-100EB Battery
Progress was delayed due to a contractual dispute with the government and by unexpectedly difficult geology. The difference with the government was eventually resolved.
In 1998 a more liberal regulatory and profit-sharing arrangement for hydrocarbon exploration and production activities was introduced. HP G62-100EE Battery
It revised and updated the production-sharing contract, which, until then, had favoured Western operators heavily. As a result domestic oil receipt rose from 13% to 20% of oil export revenue. However, the government's share remains relatively poor by international standards. HP G62-100EJ Battery
In 1997 CMS Nomeco moved to expand its operation with a U.S.$300m methanol plant. The plant entered production in 2000 and help boost natural gas condensate output from Alba field.
In August 1999 the government closed bidding on a new petroleum licensing round for 53 unexplored deepwater blocks and seven shallow water blocks. HP G62-100SL Battery
The response was small due to combination of factors, including falling oil prices, restructuring within the oil industry, and uncertainty over and undemarcated maritime border with Nigeria (which was not resolved until 2000).
In late 1999 Triton Energy, a U.S. independent, discovered La Ceiba in block G in an entirely new area offshore the mainland of the country. HP G62-101TU Battery
Triton expects a U.S.$200m development program to enable La Ceiba and associated fields to produce 100,000 barrels per day (16,000 m3/d) by late 2001, despite disappointments and technical problems at the beginning of the year.
With an upturn in oil prices, exploration intensified in 2000. HP G62-101XX Battery
In April 2000 U.S.-based Vanco Energy signed a production-sharing contract for the offshore block of Corisco Deep. In May 2000, Chevron was granted block L, offshore Rio Muni, and a further three production-sharing contracts (for blocks J, I, and H) were signed withAtlas Petroleum, a Nigerian company. HP G62-103XX Battery
In early 2001 the government announced plans to establish a national oil company, to allow Equatorial Guinea to take a greater stake in the sector and to facilitate the more rapid transfer of skills. However, critics fear that such a company may become a vehicle for opaque accounting and inertia of the sort that has hindered development in neighbouring countries including Angola, Cameroon, and Nigeria. HP G62-104SA Battery
Since 2001 the government has created GEPetrol, a national oil company; and Sonagas, a national natural gas company. The company EG LNG has been created to construct and operate the Bioko Island LNG plant and terminal. HP G62-105SA Battery
Animal Husbandry
Cattle and poultry production is rapidly reaching its pre-independence levels of self-sufficiency with the financial help of the African Development Bank. However, production of domesticated animals is hindered by the presence of trypanosomiasis and other tropical deterrents. HP G62-106SA Battery
In 2005 there were 37,600 sheep, 9,000 goats, 6,100 hogs, and 5,000 cattle.
Fishing
The fishing industry gained strength through the 1980s and is now almost entirely modernized; a tuna processing plant went into operation in 1990. HP G62-107SA Battery
Annobón subsists almost entirely on fishing and retains its traditional preeminence in off shore whaling and turtle gathering. Bioko is also a major fishing center, the chief catches being perch, tuna, mackerel, cod, pike, shark, and crayfish. The country’s own catch was about 3,500 tons in 2003. HP G62-110ED Battery
Forestry
Timber from Río Muni is Equatorial Guinea’s leading export. Forests cover over 62 percent of the land area. The Río Muni area on the mainland produces okoumé and akoga from rain forests of considerable age. HP G62-110EE Battery
Even though the government has given permission to foreign firms, exploitation is difficult due to infrastructural problems. The government enacted a new forestry action plan in 1990 in an effort to strengthen the sector’s development. HP G62-110EE Battery
In 2004, roundwood production was estimated at 811,000 cubic metres. In 2004, exports of forest products amounted to $97 million Child rate- 4$24 billion (2009 est.) HP G62-110EI Battery,HP G62-110EO Battery,HP G62-110EY Battery
No comments:
Post a Comment