Petroleum Africa
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Monday, April 8, 2019
During the recent APPO’s (African Petroleum Producers Organization) Cape VII Conference and Exhibition, which took place in Malabo, Equatorial Guinea, the Minister of Hydrocarbons for the Democratic Republic of Congo (DRC), John Kwet-Mwen Kwet, promoted the country’s available acreage.
The DRC called for tenders on 38 blocks in total.
The country boasts three sedimentary basins which are thought to hold significant oil potential. These include the Coastal Basin, the Central Cuvette Basin, and the East Rift West Branch African Basin.
Six of the 38 blocks are located in the Coastal Basin, with three of the six having been relinquished from past operators. There are 21 exploration blocks on offer in the Central Cuvette Basin, three of those are currently held by state-run mining firm Comico. The remaining 11 blocks are located in the East Rift West Branch African Basin’s Graben Tanganyika.
“What we can say now is that the Congo is a country with a future, and we can now invite our African brothers to come in numbers to invest because there is huge potential. There are many opportunities in this country, and we invite you all to come and invest in Congo,” Minister of Hydrocarbons John Kwet-Mwen Kwet told attendees.
Targeted promotion of the blocks will be directed at large oil companies, with an emphasis on national companies and APPO member countries.
“If we look at the future outlook, as a country, we would like to conduct a targeted promotion and focus more on the national oil companies. For this, we have taken samples of the exploratory blocks that have not been explored. Now we must put it through the bidding process. These are blocks that for the moment are completely free,” said Chief of Staff of the Ministry of Hydrocarbons, Emmanuel Kayumba.
The Ministry has already participated in interregional discussions leading to the development of the agreements of unitization and is currently focusing on promoting the round and encouraging oil companies to invest in upstream acreage in the Congo.
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