The Present Situation And Problems Regarding Of Exploitation Of Oil And Gas Resources In Equatorial Guinea

Equatorial Guinea is a small,open,oil-rich country in the Gulf of Africa's largest producer,the third-largest producer of sub-Saharan Africa and the fourth largest producer of liquefied natural gas,and the sixth largest source of imported crude from China's African region.Because of its geographical natural advantages,it has extensive and rich oil and gas reserves,and has a stable domestic political environment and a high degree of market openness than other African countries in the same region.However,during the dozens of-year history of development,for many reasons,the development of the red several oil and gas resources has produced many problems,the whole country has entered the production stage of the oil fields are controlled by the United States oil and gas companies,and the government is very willing to cooperate with the United States companies;The problem of government corruption and the non-transparent operation mode of oil and gas industry have been criticized by the international public.Again,the economic development model which relies heavily on oil exports also brings to the economy a single economic structure,low employment rate and unbalanced industrial structure.Since 2006,China has been involved in exploration and development in the fields of oil and gas,and in 2014 the value of drilling has been reached.The development of China's oil and gas resources has the advantages of improving the energy structure of the United States and diversifying the economy,but it also faces the challenges of the United States ' great advantage in red and the backwardness of offshore oil and gas exploration technology.This paper analyzes the present situation,advantages and problems of the oil and gas industry in China,analyzes its advantages and challenges in the fields of oil and gas,and hopes to learn from the resources cooperation and development of China and other small resource rich countries.