Equatorial Guinea: Arabian Energy joins Bioko terminal project

The government of Equatorial Guinea has signed an agreement with Dubai-based Arabian Energy DMCC to work together on the Bioko Oil Terminal. The two sides agreed to collaborate on the development, implementation, construction and financing of the $500m project to develop West Africa’s largest oil and petroleum products storage facility. Other partners in the project include South Africa’s SacOil, Nigeria’s Taleveras Exploration and Production, trader Gunvor Group and South Africa’s Strategic Fuel Fund Association, which signed a memorandum of understanding with the government in 2015.