The Democratic Republic of Congo (DRC) and the Republic of Angola signed an agreement in 2007 on oil exploration and exploitation in the maritime zone of common interest (ZIC). However, since its signing, this agreement has faced many obstacles for its implementation. The Minister of Hydrocarbons, Didier Budimbu, was recently heard before the Senate Foreign Relations Committee to review this agreement and the exploitation on block 14.
During this hearing, the Minister presented the results of two missions carried out in September 2021 and February 2022 in Angola. The purpose of these missions was to take stock of the agreement signed in 2007 and to obtain a roadmap for implementing this agreement. Thanks to these missions, a joint commission, made up of experts from both countries, was set up. This commission made it possible to obtain important data on the exploration work already carried out in the ZIC at the initiative of Angola. This work led to the discovery of the Negage and Mengogue oil fields south of block 14.
The data obtained thus enabled the Congolese party to assess the potential of the ZIC in hydrocarbons (oil and gas). The Minister of Hydrocarbons wanted to reassure the senators who are members of the commission on the government’s desire to work hard for the signing of the Production Sharing Contract (PSC). A new meeting is scheduled for June 20 of the current year to move forward on this subject.
At the same time, the Minister also mentioned other topical issues, in particular that linked to the call for tenders for oil and gas blocks. The Minister thus explained to the senators that he intended to introduce a bill to soften and make more fluid the texts governing the regulation of calls for tenders. The goal is to make this process more efficient.
Since June 2023, the Democratic Republic of Congo has claimed a production plan for Angolan blocks in deep waters. It is therefore an important step for the country which aims to increase its oil production plateau currently by 25,000 bpd. The implementation of the agreement on oil exploration and exploitation in the ZIC is therefore a key issue for the DRC.
In conclusion, the situation is changing in the right direction with the creation of the mixed commission of experts and the willingness of the DRC government to do everything possible for the signing of the CPP. This bill to relax the texts governing the regulation of calls for tenders could also facilitate the procedures for the exploitation of the country’s oil and gas blocks.