break the cycle

DRC: Eni, TotalEnergies, Exxon… Who’s ready to fight for Congolese oil?

By Maher Hajbi

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Posted on August 2, 2022 09:10

 © Perenco’s offshore oil platform off Muanda, at the southwestern tip of the DRC, in October 2021. ALEXIS HUGUET/AFP
Perenco’s offshore oil platform off Muanda, at the southwestern tip of the DRC, in October 2021. ALEXIS HUGUET/AFP

Largely dependent on the mining sector, DRC has officially launched calls for tender for 30 oil and gas blocks (rather than 16), including two belonging to Israeli tycoon Dan Gertler. This is enough to whet the appetite of the giants.

“We should no longer be content to celebrate the natural resource potential of our country indefinitely. It is up to us to exploit it. DRC’s President Félix Tshisekedi launched on Thursday 28 July, calls for tenders for three gas blocks and 27 oil blocks, two of which were returned last February by Ventora Development, one of the companies of the Israeli businessman Dan Gertler.

Spread over the country’s main sedimentary basins, the Coastal Basin, the Central Basin and the basins of the western branch of the East African Rift, these resources are estimated at some 22 billion barrels of crude oil and 66 billion cubic meters (nm³) of gas.

Aiming for the top

For DRC’s Minister of Hydrocarbons, Didier Budimbu, it is “unacceptable that such a lucrative sector, capable of playing a preponderant role in the country’s economy, is only exploited at a low rate of 4.5% of its potential.”

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