Alirio Recinos, Weatherford’s country manager for the Republic of Congo, talks to TOGY about the effects of the oil price slump and potential for better conditions in…
READ MORERepublic of Congo's Energy Industry
in figures
Oil reserves(2022):1.8 billion barrels
Oil production (2022):269,000 bopd
Gas reserves (2022):284 bcm
LNG export capacity (2024:)600,000 tpy
Republic of Congo: New Projects and New Production
The Republic of Congo’s oil and gas industry produces the third-largest volume 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 country’s hydrocarbons sector 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 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 its 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 the 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.”
The USD 5-billion Congo LNG project is expected to reach a capacity of 3 million tonnes per year. 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.
Trident Energy has acquired stakes in fields offshore the Republic of Congo from Chevron and TotalEnergies.
READ MOREAngola is modernising its logistics network in a move to diversify its economy and capitalise on its geographical location.
READ MORERepresentatives of Azerbaijan's SOCAR and the Republic of Congo have met to discuss co-operation in the field of oil and gas.
READ MOREThe USD 5-billion Congo LNG project is expected to reach a capacity of 3 million tonnes per year.
READ MOREThe Republic of Congo and partner Eni are celebrating the country's inaugural shipment of LNG.
READ MOREDavid Tony Nwakaji of Tenaris talks about the company’s footprint in Angola and its new service centre in Soyo.
READ MOREFrédéric De Vos, managing director of Société Commune de Logistique (SCLOG), talks to TOGY about petroleum supply balances in the Republic of Congo and how…
READ MOREValère Coquet, the technical director of Chaudronnerie Tuyauterie Industrielle du Congo (CTIC), talks to TOGY about how the economic and political activity in the…
READ MORETotal has brought on line its Moho Phase 1b project located off the coast of the Republic of Congo, the oil major announced in a company statement Friday.
Located 75…
READ MORELondon-headquartered international oil company Soco’s stocks plunged 17 percent on Wednesday after the announcement that its production wells in Vietnam are…
READ MOREChevron subsidiary Chevron Overseas (Congo) has begun hydrocarbons production from the Lianzi field, located in a unitised offshore zone between the Republic of Congo…
READ MOREEni released details on Thursday of the pre-salt discovery offshore the Republic of Congo which it had announced last week in its third-quarter report. The Italian…
READ MOREFirst oil has begun to flow at Chevron’s Lianzi development offshore the Republic of Congo and Angola, the company announced on Monday. The project is expected to…
READ MOREIn light of low oil prices, Mahaman Laouan Gaya, executive secretary of the African Petroleum Producers’ Association (APPA) and former secretary-general of…
READ MORERobert Nken, managing director at KPMG Congo, speaks with TOGY about the lessons learned by both operators and the government from the fall of oil prices in 2014, as…
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