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Seven African nations create Gulf of Guinea Commission

Seven nations holding most of sub-Saharan Africa's known oil reserves have formally created a regional body to promote common interests and prevent war over maritime borders.

Published: July 05, 2001 00:00
Reuters

Seven nations holding most of sub-Saharan Africa's known oil reserves have formally created a regional body to promote common interests and prevent war over maritime borders.

A treaty adopted late on Tuesday at a summit of heads of state formally creates the Gulf of Guinea Commission, grouping Angola, Cameroon, the Republic of Congo, Equatorial Guinea, Gabon, Nigeria and Sao Tome and Principe.

The Gulf of Guinea is one of the world's oil exploration hotspots and doubts over boundaries worry companies planning billions of dollars in investments as much as the countries which stand to benefit from new oil reserves.

"What was until yesterday a dream has today become a reality," said Gabonese President Omar Bongo, who hosted the meeting and is an advocate of regional economic integration. The commission, under discussion since at least 1999, is designed to promote economic development and the "prevention, management and resolution of conflicts between countries in the Gulf of Guinea", a statement issued after the meeting said.

Border disputes have arisen between several of the commission's members, mainly over substantial oil reserves which are seen as the best way to end the region's chronic poverty.

Nigeria, sub-Saharan Africa's biggest oil producer, and Cameroon have repeatedly clashed over the Bakassi Peninsula, believed to sit on substantial oil reserves. The case is now before the International Court of Justice in the Hague.

Gabon and Equatorial Guinea are due to meet later this year to discuss their land border, officials at the Libreville meeting said, while Gabon and Sao Tome and Principe met in April to resolve an old dispute over maritime borders.

"I am ready to meet anyone who can contribute to the consolidation and construction of Africa and to the promotion of people's liberty, solidarity and well-being," said Miguel Trovoada, president of Sao Tome and Principe.

The heads of state of Gabon, Nigeria and Sao Tome attended the meeting with Cameroon's prime minister and delegations from Angola and Equatorial Guinea.

https://gulfnews.com/business/energy/seven-african-nations-create-gulf-of-guinea-commission-1.420422