The hydrocarbon sector has become the mainstay of the economy of several countries around the world, including the Democratic Republic of Congo (DRC). Indeed, this Central African country has enormous hydrocarbon potential, distributed in its three sedimentary basins (the central basin, the western branch of the East African Rift and the coastal basin). Oil days were organized to discuss the management of production sharing contracts (PSCs) in African oil producing countries.
In 2015 and 2016, the Democratic Republic of Congo adopted a legal and regulatory framework to promote this sector. In order to maximize revenue, the country has opted for the CPP against the type of contract for the allocation of hydrocarbon rights, while respecting the timetable of activities, and carrying out rigorous control of the various tax flows, environmental standards, the certification of resources and reserves as well as the declaration of oil production.
The Deputy Minister of Hydrocarbons, Wivine Moleka, recalled the DRC’s clear desire to revitalize the upstream hydrocarbon sector through the very first tender process for 27 gas blocks. This first edition of the Petroleum Days highlighted the importance of the careful implementation of control mechanisms to achieve the initial objectives of the parties to the contract.
These days also led to appropriate strategies and solutions to boost the hydrocarbons sector of African oil-producing countries in general and especially for French-speaking African countries such as the DRC.