Title: Cooperation between the Democratic Republic of Congo and Angola in the maritime zone of common interest
Introduction :
For several years, the Democratic Republic of Congo and Angola have worked in close collaboration to exploit the natural resources present in the maritime zone of common interest between the two countries. After intense negotiations and the signing of an agreement in 2007, discussions are continuing to finalize the details and put in place a governance framework for the production and export of hydrocarbons in this area. In this article, we will examine the progress made in this cooperation and the potential impact on the two economies.
The report on the progress of the file:
During the 103rd meeting of the Council of Ministers, the Minister of Hydrocarbons of the Democratic Republic of Congo, Didier Budimbu, presented a detailed report on the progress made in the file of the maritime zone of common interest between the DRC and the Angola. This report follows the mission carried out by the Minister to Luanda from June 19 to 22, 2023, where discussions were held to continue the work of implementing the agreement signed in 2007.
The guiding principles of the production sharing contract:
One of the key points discussed during this bilateral meeting was the harmonization of the guiding principles of the Production Sharing Contract (PSC). It has been agreed that the Ministry of Hydrocarbons of the DRC and the ANPG will be designated as concession holders for the prospecting, exploration, evaluation, development and production of liquid and gaseous hydrocarbons in the maritime zone. of common interest. The income will be divided equally, ie 50% for each country. These advances pave the way for the finalization of the agreement on the governance and management of the area, which should be signed very soon.
The benefits of cooperation:
This cooperation between the DRC and Angola in the maritime area of common interest has many advantages for both countries. First of all, it will make it possible to exploit the natural resources present in the area, in particular hydrocarbons, which will contribute to economic development and job creation. In addition, the equitable distribution of income between the two countries strengthens bilateral relations and promotes stability in the region. Finally, this cooperation demonstrates the will of the two countries to work together in a spirit of partnership to responsibly exploit the natural resources of the region.
Conclusion :
The cooperation between the Democratic Republic of Congo and Angola in the maritime zone of common interest is a concrete example of regional collaboration for the exploitation of natural resources. The progress made in the implementation of the agreement and the harmonization of the guiding principles of the CPP are promising for the future of this cooperation. It now remains to finalize the agreement on the governance and management of the area, which will pave the way for the negotiation of the production sharing contract. This mutually beneficial cooperation will contribute to the economic development of both countries and strengthen bilateral ties between the DRC and Angola.