EXISTING FOREIGN PRESENCE
In 2012 Equatorial Guinea was the second largest investment destination in Central Africa in terms of inbound FDI stocks (U.S. $ 13.5 billion), directed largely towards the oil sector:
The Gulf of Guinea provides more than 5% of global oil production and all of the world’s major oil companies are present. 340 000 b/d of oil (2011) are extracted by major oil companies including Hess, ExxonMobil, Marathon, and Noble, in association with GEPetrol. International presence in oil exploration is very diverse, including Swiss, British, American, Chinese, Spanish, Russian, and Nigerian companies. Deep-sea exploration permits were also awarded to TotalFinaElf, for drilling in 2013. In addition, Japanese companies (Mitsui and Marubeni) are present in gas liquefaction.
Bouygues Construction Equatorial Guinea (BBGE), a subsidiary of Bouygues Construction, opened in 1993 and has participated in major infrastructure projects in the two main cities (Malabo and Bata). These include the Paseo Maritimo de Bata (Bata Marine Passage), the Sofitel Sipopo, the international airport, and the country’s largest stadium, where the African Cup was hosted in Malabo in 2012.
Sogea Satom GE, a subsidiary of Vinci Construction Group, was established in the country in 1998 and got the contract to construct 50 villas in Sipopo for the Summit of the African Union in 2011, as well as install a drinking water network in Malabo and build roads on the mainland.
Razel-Bec, a subsidiary of the French construction group FAYAT, was responsible for carrying out the second phase (2006-2008) of the Malabo bypass road, which circumnavigates the city. The Equatorial Guinean government has additionally asked the company to build the main axes between the bypass and the city. Razel also paved the streets of Malabo Banapa.
In 2008, the French water company Veolia, in partnership with Somagec GE, constructed a 35 km extension of the city’s water supply network and the construction of a wastewater treatment plant to service 300,000 people.