PRESS RELEASE Abuja – 6th December, 2006   Historic Agreement signed by Equatorial Guinea and Nigeria for co-operation in Regional Gas Supply and Oil and Gas Development   Today in the Nigerian capital, Abuja, a delegation from the Equatorial Guinea Ministry of Mines, Industry and Energy, led by His Excellency Atanasio Ela Ntugu Nsa met with a delegation from the Nigerian National Petroleum Corporation (NNPC) headed by Engr Funsho Kupolokun, the Group Managing Director of NNPC. At the meeting, a Heads of Agreement was signed by His Excellency Gabriel Mbaga Obiang Lima, Vice Minister of the Equatorial Guinea Ministry of Mines Industry and Energy and Engr. Funsho. Kupolokun, Group Managing Director of NNPC. This historic agreement provides for cooperation between Equatorial Guinea and Nigeria in the sale of gas from Nigeria to Sonagas in Equatorial Guinea through an international pipeline, as well as the acquisition of oil and gas exploration blocks by NNPC in Equatorial Guinea. This agreement is a step in Equatorial Guinea's plan to become a regional gas processing center for the Gulf of Guinea region. Similarly, this will be NNPC's debut as an international operating company because the exploration blocks will be the first overseas blocks in NNPC's portfolio. In his opening presentation at the meeting in Abuja, his Excellency Atanasio Ela Ntugu Nsa told the two delegations that "This agreement is the result of the close cooperation between the President of Equatorial Guinea, His Excellency Obiang Nguema Mbasogo, and the President of Nigeria, His Excellency Olusegun Aremu Obasanjo, who each share the goal of increased regional economic integration and the development of African infrastructure through such integration." In his remarks following the signature of the agreement, His Excellency Gabriel Mbaga Obiang Lima, stated to the meeting, "This agreement is an historic step for the two African nations that will further the economic development of their peoples and the strong fraternal ties between Equatorial Guinea and Nigeria." "This agreement is also part of the policy of both countries to eliminate the flaring of natural gas," added the Vice Minister. In a related matter, a delegation from Equatorial Guinea will travel to Cameroon in January for the signing of a similar gas supply agreement. Notes: The Equatorial Guinea Ministry of Mines Industry and Energy is the Ministry in charge of Oil and Gas matters in Equatorial Guinea, which is the third largest oil producer in sub-Saharan Africa and has a significant and growing gas processing infrastructure. Sonagas is the national gas company of Equatorial Guinea. NNPC is the national oil company of Nigeria, the largest oil producer in sub-Saharan Africa and the owner of substantial gas reserves.