The DRC and Angola have finally succeeded in concretizing their agreement on the Maritime Zone of Common Interest (ZIC) after many years of negotiations. On July 13, the two countries signed a memorandum of understanding on the exploitation and production of hydrocarbons in this area.
This signing marks a crucial step in the implementation of the ZIC, whose initial agreement dates back to 2007. The objective of this agreement is to allow joint exploitation of oil resources without calling into question the delimitation of the maritime borders between the two countries.
However, the issue of ownership of the petroleum resources present in the ZIC has been a subject of disagreement for many years. Indeed, part of the oil deposits exploited by Angola in this area is actually on Congolese territory.
The downstream oil and oil contract negotiation expert, Lewis Yola, points out that the DRC could have claimed exclusive exploitation of its oil blocks based on the provisions of the Montego Bay Convention.
However, the DRC finally accepted the establishment of a ZIC which concerns only one oil block, thus raising questions about the other blocks and their economic potential. According to Mr. Yola, this could lead to significant losses for the DRC, which could have benefited from additional income by exploiting all of its blocks.
Kristof Titeca, professor at the University of Antwerp, confirms that legally, the oil exploited by Angola in the ZIC belongs to the DRC. However, he points out that the DRC has never dared to take this case to court because of Angola’s influence and power in the region.
For the moment, the exact details of the agreement on the governance and management of the ZIC are not yet known. In addition, negotiations regarding the harmonized production sharing contract between the stakeholders have yet to take place.
It is therefore essential to follow closely the future developments of this situation, which could have a significant impact on the economy and the incomes of the DRC. The question of ownership of natural resources is a crucial issue for many African countries, and it is essential to ensure that the agreements reached are fair and beneficial for all actors involved.