Minister Ntubuanga to highlight Democratic Republic of Congo (DRC) exploration potential at Invest in African Energy Paris. Following the allocation of exploration and production licences in three blocks to Symbion Power, Winds Energy & Production and Alfajiri Energy as part of a licensing cycle comprising 27 onshore blocks in 2022, DRC’s upstream market has become increasingly attractive to leading E&P players.
Representing one of the last borders for oil and gas, the country is seeking foreign investment and private sector participation to unlock the full potential of the terrestrial market. To date, exploration activities led by companies such as Atlantic Ocean and Cohydro and production campaigns led by Perenco have been instrumental in growing the country’s energy market. However, the country is considering further opening up the onshore market, which is clear evidence of the government’s commitment to stimulating socio-economic growth through oil and gas.
Currently, exploration and production is concentrated in the Congo Basin and along the four main lakes bordering Tanzania, Burundi, Rwanda and Uganda. Thus, the DRC’s new approach to energy optimisation through increased exploration has opened up massive opportunities for upstream global companies and added value for local populations and economies through the skills development and job creation. In this context, H.E. Ntubuanga continues to make great strides to ensure the participation of global actors.
During the Forum, the Minister will provide an overview of opportunities for oil and gas stakeholders in the DRC. Committed to maximizing potential oil and gas reserves while leading a fair and inclusive energy transition, the Minister will play an important role in investment, opening a new era of energy sector growth for the DRC.
Conversations in the DRC will focus on opportunities for exploration and investment in the DRC’s open areas. While only 19 per cent of Congolese are currently connected to electricity, increasing exploration and development of the country’s vast oil and gas reserves is crucial to achieving the government’s 30 per cent energy access target by 2024. Perenco produces in the DRC and is doing well, and we want to see more companies producing oil and natural gas in the DRC,” said ACS Executive Chairman NJ Ayuk, adding: We look forward to a critical look at the opportunities available in the DRC and see the country’s energy industry as a key driver for making energy poverty an ancient history in Africa by 2030.”
