Global Trade Alert

On 26 September 2014, the Ministry of Mines, Industry and Energy (MMIE) released Ministerial Order no. 1/2014 which lays out the national content regulation for the oil and gas sector. 
 
The new law requires oil companies to include Equatoguinean firms as partners and in the procurement of goods, services, capital, and human resources whenever possible. In order to achieve this, the government will provide a list with suitable national providers.
 
In addition the law demands the inclusion of capacity building i.e. training of national personnel, as well as social work. Responsible for the implementation of the new set of rules is the General Directorate of National Content which acts under the MMIE.
 
Local content requirements have already been established in the Hydrocarbons Law of 2006, but were undermined by constant breaches. The new law shall emphasize and clarify the importance of local content as well as to finally lead ot the inforcement the regulations.