Republic of Congo's Energy Industry
Oil reserves2.9 billion barrels
Oil production307,000 bopd
Gas reserves111 bcm
Gas production240 bcm
Republic of Congo: New Projects and New Production
The Republic of Congo’s oil and gas industry was the first to begin production in West Africa and now produces the third-largest amount of crude in Sub-Saharan Africa. The nation produces mainly oil with only small amounts of natural gas and condensate liquids. As a net exporter of crude, the majority of the country’s revenues are dependent on fluctuations in oil prices. The OPEC member has long attempted to make the market attractive to foreign IOCs to continue to keep up with its traditional strong production growth.
The hydrocarbons sector of the Republis of Congo’s energy industry is dominated by NOC SNPC Congo, which is the exclusive concessionaire of E&P permits. The state-run company has been joined by many IOCs participating in the Republic of Congo’s upstream sector, including TotalEnergies, Chevron, Perenco and Eni. Independents also play a role in the tapping into the country’s resources. Most producing fields are now offshore, including the prolific Mondo Nord field development.
To curb the country’s reliance on export prices, plans have been made to upgrade the country’s power generation and refining capacity. “The government values the economic diversification of the country and plans to leverage this,” Jean-Marc Thystère Tchicaya, former minister of hydrocarbons for the Republic of Congo, told The Energy Year. “Apart from the use of gas for production of electricity, the amount of which has been expanding in recent years, other aspects of gas valuation are being studied and offer more opportunities for monetisation.”
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