The Democratic Republic of Congo is betting on production sharing contracts to boost its oil industry. This decision was welcomed during the first edition of Oil Days in Dubai, United Arab Emirates, which addressed the theme of the impact of controls in the management of PSCs. The event highlighted the major interest of the DRC on the issue, as a major hydrocarbon producing country with enormous potential in its three sedimentary basins.
The Deputy Minister of Hydrocarbons, Wivine Moleka, underlined that the careful establishment of control mechanisms is necessary to allow each party to the contracts to achieve their initial objectives and to maximize the revenues of the hydrocarbons sector. The DRC has opted for the PSC as the type of contract for the allocation of hydrocarbon rights while respecting the schedule of control activities. It also announced its intention to revitalize the upstream hydrocarbon sector through the first-ever tender process launched in July 2022 for 27 gas blocks.
Beyond the DRC, this first edition of Oil Days also promoted appropriate strategies and solutions to boost the hydrocarbons sector of African countries in general and French-speaking African countries in particular.
Overall, this oil meeting comes against a tense backdrop in the DRC, with increased police repression on the sidelines of elections and internal political tensions. Nevertheless, the economic stake that the oil industry represents for the DRC should not be put aside.