Equatorial Guinea's manufacturing sector is very small. Sawmilling leads industrial production, followed by cement, bleach, and tuna canning plants. Small-scale soap manufacturing and food processing operations round out the industrial sector. The petroleum mining industry is growing rapidly, as large oil reserves have been discovered. Oil in 2002 accounted for over 60% of GDP and over 90% of exports. Proven oil reserves are estimated at 12 million barrels. Oil production increased from 17,000 barrels per day in 1996 to around 181,000 barrels per day in 2001. There is a methanol plant on Bioko island that processes natural gas. Proven natural gas reserves are estimated at1.3 trillion cubic feet (Tcf)This was announced last week in Dakar by Abderrahim Doumar, Executive Director of the African Regional Center of Technology (ARCT), an organization created in 1977 promoted by the African Union whose aim is to provide the member countries with the necessary technological mechanisms to direct them towards integrated and sustainable development.
According to the Director himself, the forum will have the presence of scientists from the energy sector who, along with the engineers and ministers, will analyze the state of technology in national strategies of development, and in the region as a whole.
The meeting in Malabo will focus on renewable energies, and they will also analyze the results of the studies carried out on these matters. The objective is to direct the national policies towards the diversification of the energy resources in order to find alternatives in view of their shortages.
