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Congo to Evolve as Africa's Third Largest Oil & Gas Producer

There is new hope for the oil industry in Congo as the current onshore discovery made in the Delta de la Cuvette signifies that the deposits could produce up to 359 million barrels of oil, or 983,000 bopd, from this central province.

Congo’s current production stands at over 330,000 bopd according to OPEC’s most recent figures.
As per the Minister of Hydrocarbons, Jean-Marc Thystère-Tchicaya, this first onshore discovery gives the country a lot of hope.
SARPD Oil and PEPA, the Congolese consortium working as operators on the Block, said the Delta de la Cuvette deposit covers 9,392 m2 and involves four wells. The first has been drilled in March of this year. When fully used, the license could propel Congo as Africa’s third largest oil producer, ahead of Algeria and Libya.
“This is indeed one of the biggest African oil discoveries in decades,” declared Nj Ayuk, Executive Chairman of the African Energy Chamber and CEO at the Centurion Law Group.
Africa has been an exploration hotspot where major oil & gas discoveries have been made in current years by international explorers, he said.
The Oyo innovarion in Congo, anyways, is the result of primitive efforts made by Congolese companies. It speaks volumes to the value that local content development can develop when local companies and entrepreneurs are given an opportunity to contribute to their industry.
The discovery is also a game changer for Congo’s energy aspects, with most oil & gas production currently coming from offshore fields.
Source : www.bizaf.com
Posted On: 9/10/2019 12:00:00 AM

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