As per the Agreement, Hon. CEO and Cabinet Minister 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 Minister 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 set up 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 Minister 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’.

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

This Agreement aims to foster Russian investments in Rwanda’s mining, oil and gas sector.