Signature of the production sharing contract for the exploitation of Lake Kivu gas blocks in the DRC
The Congolese government has just taken a major step forward in the exploitation of Lake Kivu’s gas resources. Indeed, last Saturday, the Ministers of Hydrocarbons Didier Budimbu and Finance Nicolas Kazadi, accompanied by representatives of the companies Winds Exploration and Production and Alfajiri Energy, officially signed the production sharing contract for the exploitation of two gas blocks in this region.
This signature marks a significant step forward in the realization of the vision of the President of the Republic, Félix-Antoine Tshisekedi, who wishes to allow the populations bordering Lake Kivu to benefit from the gas potential of this region. Once considered a ticking time bomb given the presence of harmful gas, Lake Kivu will soon become an engine of economic development for the local population.
It should be emphasized that the entire procedure was carried out in compliance with the rules established by the law governing the hydrocarbon sector in the DRC. In accordance with these provisions, the Société Nationale des Hydrocarbures (SONAHYDROC S.A) will represent the Congolese State and will benefit from an automatic participation of 20% on the profits generated by operating activities.
This progress is the result of a rigorous process of calls for tenders, launched by the Ad Hoc Commission responsible for organizing this procedure, in accordance with legal requirements. In total, 14 applications were studied, among which the companies Winds Exploration & Production, Alfajiri Energy and the Symbion Power & RED Consortium were selected to exploit the Lake Kivu gas blocks.
This government initiative opens new perspectives for the Lake Kivu region. In addition to providing electricity to the local population, the exploitation of these gas resources will create jobs and attract foreign and national investment, while promoting the development of surrounding towns and villages.
The signing of this contract marks a major turning point in the economic history of the DRC. It demonstrates the government’s desire to develop the country’s natural resources for the benefit of the Congolese population. By responsibly exploiting the gas resources of Lake Kivu, the DRC is embarking on the path to sustainable and equitable development for all its citizens.