Equatorial Guinea has brought in Energy Allied International to develop the petrochemical sector in the country. The new partnership with the Houston based firm will also bring more jobs hopefully drive the country closer to become an emergent and sustainable economy by 2020.

The Ministry of Mines, Industry and Energy will work with Energy Allied to assemble the financial, technological, operational and managerial resources needed to design, engineer and implement sustainable projects for the petrochemical sector.

Mining Minister Gabriel Mbega Obiang Lima said: “The fast-tracked development of Equatorial Guinea’s petrochemical sector is a top priority of the Government and is of great national importance for the efficient utilisation and value added to the State’s natural resources and most importantly for the creation of large scale jobs opportunities.”

The deal is a further move towards Equatorial Guinea’s growing industrialisation, earlier this month Mr Obiang unveiled plans for nationwide electrification. In the 1990s huge resources of natural gas were discovered in the country.