DR Congo calls off oil and gas bid round

Democratic Republic of the Congo

KINSHASA, October 14, 2024 – The Democratic Republic of the Congo has cancelled a bid round for 30 hydrocarbons blocks launched in 2022, Reuters reported on Monday.

Citing the country’s Ministry of Hydrocarbons, the report said the round has been called off due to late submissions, inappropriate or irregular offers and a lack of competition.

The assets on offer included 27 oil blocks and three natural gas blocks.

Minister of Hydrocarbons Aime Sakombi Molendo said on X (formerly Twitter) that the bid round would be relaunched in future without giving a timeline.

The auction has faced criticism as several blocks are situated in an environmentally sensitive area, the report said. The government has countered that it needs to prioritise energy development.

DR Congo produces around 25,000 bopd through a longstanding Perenco-led project, according to Bloomberg.