The Republic of Guinea will launch a bidding round for up to 25 offshore oil blocks this year to attract more investments, the country’s minerals minister has announced
Following successful exploration in Ghana, which began pumping oil in 2010, several other West African countries are hoping to join the ranks of oil producers, Reuters reported.
Minister Kerfalla Yansane said, “We have a new oil code in Guinea, and maybe in the next six months we will be able to launch a tender on oil blocks.
“There are 20 to 25 and we are talking about offshore.”
Guinea, still fighting an Ebola outbreak that has killed around 9,000 people in the region, is better known for its vast deposits of iron ore and bauxite.