Republic of Congo's Energy Industry

Republic of Congo: offshore growth and LNG momentum

The Republic of Congo is one of the largest crude producers in sub-Saharan Africa, typically ranking among the top four. 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 sustain production and support future growth.

The country’s hydrocarbons sector is dominated by NOC SNPC, which represents the State’s interests in the upstream sector and participates alongside operators under production-sharing contracts. The state-run company has been joined by many IOCs participating in the upstream sector, including TotalEnergies, Perenco and Eni, while Chevron has exited the country following the sale of its Congolese assets (now held by Trident Energy). Independents also play a role in tapping into the country’s resources. Most producing fields are now offshore, including the prolific Moho Nord field development.

To curb the country’s reliance on export prices, the government has set out plans to diversify the economy and upgrade power generation and refining capacity. Gas use for electricity generation has been expanding in recent years, and additional avenues for gas monetisation are being studied as part of broader efforts to add value to domestic resources.

The USD 5-billion Congo LNG project is expected to reach a total capacity of 3 million tonnes per year once its second phase is fully in place. First gas was introduced to the project’s first FLNG vessel, Tango, in December 2023 and the inaugural shipment from the facility was announced in late February 2024.