Mining & Hydrocarbon Cooperation Agreement signed between Rwanda and Russia

Sochi, October 23, Rwanda and Russia have signed a Mining & Hydrocarbon Cooperation Agreement in undertaking geological surveys, conducting exploration and providing equipment and services in the mining, oil and gas sectors. The Agreement between Rwanda Mines, Petroleum and Gas Board (RMB) and ROSGEO, the State Geological Holding Company of Russia was signed on the sidelines of Russia-Africa Economic Forum in Sochi today.

As per the Agreement, Hon. CEO and Cabinet member Francis Gatare of RMB and Mr. Sergey Gorkov, CEO of ROSGEO committed to develop and promote a mutually beneficial public-private cooperation and partnership in undertaking geochemical analysis of hydrocarbons samples from Lake Kivu and in managing and interpreting mining geophysical data. On this Hon. CEO and Cabinet member Francis Gatare stated, "This Agreement aims to foster Russian investments in Rwanda’s mining, oil and gas sector. With Russia’s expertise in the extractive sector there is no doubt the agreement will bear fruit".

The Agreement entails parties will jointly identify future hydrocarbon exploration opportunities in the Lake Kivu basin, collaborate to setup a certified geochemistry, petrology and mineralogy laboratory, provide training in the study of geosciences, and develop Rwanda’s geothermal potential. In addition the Agreement also provides for supply of equipment and services for geological exploration and mining, technical assistance and transfer knowledge, and training in cutting-edge software needed for mining and hydrocarbons exploration.

Hon. CEO and Cabinet member Francis Gatare has also been invited to speak on two panel sessions at the Russia-Summit: ‘Using Minerals in Africa for the Benefit of Its Peoples’ and ‘Russian Geological Exploration in Africa: Looking to the Past and the Future’.