The partnership between the Democratic Republic of Congo and the Republic of Angola in the field of oil exploitation marked a significant step forward with the signing of an agreement on the maritime zone of common interest (ZIC). This agreement, signed during a solemn ceremony in Kinshasa, opens up new prospects for the two countries in terms of economic development and the strengthening of their cooperation.
According to the information reported, the DRC and Angola now become concessionaires and owners of the rights to the maritime zone of common interest. This means that they will equitably share the revenues from oil exploitation in this area. The agreement also paves the way for the negotiation of a harmonized production sharing contract between the two parties, represented by their concessionary entities and the group of entrepreneurs.
The DRC is a country endowed with potentially significant oil resources, with its three sedimentary basins among the largest in the world. Its oil reserves are estimated to be around 22 billion barrels, as well as 66 billion m³ of methane gas in Lake Kivu. The signing of this agreement therefore paves the way for the exploitation of these resources and bodes well for significant potential for the country’s economic development.
The repercussions of this agreement are not limited only to oil revenues, but they also bring opportunities for local companies, such as Cobil SA, which will be able to work to improve the situation of oil revenues in the DRC. This can have a direct impact on the country’s budget and contribute to its financial stability.
This new stage in the cooperation between the DRC and Angola in the field of oil exploitation is an opportunity to be seized for the two countries. It opens up new prospects for economic growth and strengthens the ties between the two nations. It is important to closely follow the developments of this agreement and see how it will translate in practice on the ground.
In conclusion, the signing of the agreement on oil exploitation between the DRC and Angola marks a significant step forward in the cooperation between the two countries. This agreement opens up new prospects for economic development and strengthens the financial stability of the DRC. It is hoped that this collaboration will be mutually beneficial and contribute to the growth and development of these two nations.