The Republic of Congo’s Ministry of Hydrocarbons recently adopted a new Hydrocarbons code intending to increase investment in the country’s oil and gas industry through renewed activities of exploration and production. This new hydrocarbon bill, passed in August last year, aims to create sincere transparency throughout the industry, from the government sectors to participating contractors and developers seeking to invest.
Thirteen blocks are on offer in the Congo Licensing Round 2016, eight in the offshore Coastal Basin and five in the onshore Cuvette Basin. Interested companies are able to register for the round via www.congolr2016.com.
Topics around this will be discussed at the Third International Hydrocarbons Conference & Exhibition taking place from 24 – 26 April 2017 in Brazzaville where the Hydrocarbons framework will be thoroughly explored and many opportunities to participate in the expanding industry will be presented to interested parties.
Congo’s hydrocarbon sector is rapidly developing on all levels with the country set to become Africa’s third biggest oil producer, with the second largest crude oil reserves in Central and Southern Africa. According to the Central Bank of Congo, the DRC ended their fiscal year 2016 with a growth rate of 2.5%. Opportunities such as sub-contracting, turning gas to clean energy, mature farms and farm-ins are plentiful in this region.
For these and other favourable investment openings, don’t miss CIEHC-3 hosted by the Ministry of Hydrocarbons in partnership with AME Trade.
For more information about CIEHC please visit www.ametrade.org/ciehc