Guinea Bissau and Brazil sign oil prospecting agreement

14 August 2006

Bissau, Guinea Bissau, 14 Aug – Guinea Bissau and Brazil have signed a memorandum of understanding for prospecting and exploring energy resources, namely oil and alternative fuel in Guinea Bissau, officials announced Saturday.

The ambassador of Brasil in Bissau, João Batista Cruz, said in a statement that the memorandum was signed on Wednesday, in Brasilia, by the Guinea Bissau minister of natural resources, Aristides Ocante da Silva, and Brazilian counterpart responsible for mines and energy, Sillas Rondeau.

In addition to prospecting and exploring of oil and carrying out research for alternative fuel, officials in Bissau and Brasilia agreed to develop mechanisms for cooperation in areas such as ethanol, biodiesel and biomass production.

The Guinea Bissau prime minister and minister Aristides Ocante da Silva last March admitted for the first time the possibility of the existence of oil in the country.

Even though the government has kept information regarding this matter secret, sector technicians say that various foreign companies are carrying out prospecting work in the Guinea Bissau offshore area.

Other points included in the memorandum are an exchange of information between the two countries in terms of research and environment conservation, as well as training and exchange of experiences between energy sector professionals. (macauhub)