Legal Alert: Initiation of local content audits in Equatorial Guinea
Centurion Law Group wishes to bring to your attention that following access to reliable sources at the Ministry of Mines and Hydrocarbons of Equatorial Guinea, you should expect the initiation of local content audits and the request of compliance documents from the Directorate General of Local Content this year.
Similar actions have already been undertaken and they are likely to become more significant.
The Directorate General of Local Content had granted a grace period to companies in 2019. During that time, the requirements on local content were minimal.
According to the information we have received, 2020 is going to see a different approach being adopted by local authorities. Companies operating in Equatorial Guinea should be expecting more stringent measures from the Directorate General of Local Content and increasingly less flexibility in terms of compliance requirements.
We wish to make sure that you have your documentation and local content plans in order. We at Centurion Law Group stand ready to assist you in meeting your compliance requirements shall you have any hesitation in that regards.
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