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New Democratic Republic of the Congo (DRC) Bidding Round Set to Launch an Energy Boom

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  The Democratic Republic of the Congo DRC has opened the door for further development of its energy assets requesting expressions of interest for the exploration of hydrocarbon resources in several new regions of the country The Democratic Republic of the Congo DRC has launched the licensing round for 27 oil blocks and 3 gas blocks Lake Kivu in the following identified basins Cuvette Central Coastal Basin Lake Tanganyika Lake Kivu and Albertine Graben New licensing and exploration opportunities arise as major developed countries seek new sources of oil and gas in the face of geopolitical instability caused by supply chain disruptions and the war in Ukraine The bidding round was launched on July 28 in the capital of the Democratic Republic of the Congo and will be widely promoted at Africa Oil Week the leading international energy conference taking place in Cape Town in October This is the perfect time for the Democratic Republic of the Congo to accelerate the development of its energy sector said Paul Sinclair Africa Oil Week s Vice President for Energy Demand for energy is skyrocketing around the world and issuing new licenses is a great way for the country to use its hydrocarbon resources for the benefit of its people The launch of the 2022 bidding round is a landmark event in the relationship between DRC and AOW and the huge development opportunity is sure to cause a stir at the event said Sinclair We look forward to receiving His Excellency Minister Didier Budimbu Ntubuanga and the DRC delegation at Africa Oil Week 2022 The Democratic Republic of the Congo is the largest country in Africa by land area and its huge estimated energy resources are still largely untapped The DRC Oil Ministry says the blocks were chosen meticulously https bit ly 3QiJlWp and take into account the sensitivity of the country s protected natural areas His Excellency Didier Budimbu Minister of Hydrocarbons announced that 3 offshore blocks 9 central bowl blocks 11 Tanganyika Graben blocks 4 Albertine Graben blocks and 3 gas blocks will be promoted for the first time at the African Oil Week In a private meeting with Mr Paul Sinclair VIP Energy at Africa Oil Week it was discussed that Africa Oil Week will support the global launch of the DRC licensing round in a series of closed door sessions to which operators can apply join in the annual meeting Africa Oil Week Summit Paul Sinclair added This is a defining moment for the DRC and I am personally proud to be working directly with the Minister to promote the development of the DRC upstream His Excellency Didier Ntubuanga has shown a great understanding of both the importance of the oil and gas sector for the economic development of the Democratic Republic of the Congo for his people and the respect that we must also show towards the environment The strategy to ensure the safety of both is the gold standard and he urges all stakeholders to support this opportunity for the DRC It has been estimated that the value of the blocks to be licensed in the DRC licensing round will have an initial value to the DRC of approximately 650 million https bloom bg 3Ql47EO which will contribute to the development of the DRC national agenda that will positively impact the people of the DRC According to https bit ly 3QrIumf the Honorable Minister Didier Budimbu the four blocks along the Tanganyika Valley are forecast to have 7 25 billion barrels of reserves while the nine offered at Cuvette Centrale have an estimated of 6 4 billion barrels The Ndunda block off the Atlantic coast has an estimated 130 million barrels while the Nganzi potentially has 2 billion barrels and the Yema Matamba Makanzi 800 million barrels Once the Expressions of Interest have been submitted only registered and pre qualified companies may submit bids
New Democratic Republic of the Congo (DRC) Bidding Round Set to Launch an Energy Boom

1 The Democratic Republic of the Congo (DRC) has opened the door for further development of its energy assets, requesting expressions of interest for the exploration of hydrocarbon resources in several new regions of the country.

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2 The Democratic Republic of the Congo (DRC) has launched the licensing round for 27 oil blocks and 3 gas blocks (Lake Kivu) in the following identified basins: Cuvette Central, Coastal Basin, Lake Tanganyika, Lake Kivu and Albertine Graben.

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3 New licensing and exploration opportunities arise as major developed countries seek new sources of oil and gas in the face of geopolitical instability caused by supply chain disruptions and the war in Ukraine.

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4 The bidding round was launched on July 28 in the capital of the Democratic Republic of the Congo and will be widely promoted at Africa Oil Week, the leading international energy conference taking place in Cape Town in October.

5 “This is the perfect time for the Democratic Republic of the Congo to accelerate the development of its energy sector,” said Paul Sinclair, Africa Oil Week’s Vice President for Energy.

6 “Demand for energy is skyrocketing around the world, and issuing new licenses is a great way for the country to use its hydrocarbon resources for the benefit of its people.”

7 “The launch of the 2022 bidding round is a landmark event in the relationship between DRC and AOW, and the huge development opportunity is sure to cause a stir at the event,” said Sinclair.

8 “We look forward to receiving His Excellency Minister Didier Budimbu Ntubuanga and the DRC delegation at Africa Oil Week 2022.”

9 The Democratic Republic of the Congo is the largest country in Africa by land area, and its huge estimated energy resources are still largely untapped.

10 The DRC Oil Ministry says the blocks were chosen “meticulously” (https://bit.ly/3QiJlWp) and take into account the sensitivity of the country’s protected natural areas.

11 His Excellency Didier Budimbu, Minister of Hydrocarbons, announced that 3 offshore blocks, 9 central bowl blocks, 11 Tanganyika Graben blocks, 4 Albertine Graben blocks and 3 gas blocks will be promoted for the first time at the African Oil Week. In a private meeting with Mr. Paul Sinclair, VIP Energy at Africa Oil Week, it was discussed that Africa Oil Week will support the global launch of the DRC licensing round in a series of closed-door sessions to which operators can apply.

12 join in the annual meeting.

13 Africa Oil Week Summit.

14 Paul Sinclair added: “This is a defining moment for the DRC and I am personally proud to be working directly with the Minister to promote the development of the DRC upstream.

15 His Excellency Didier Ntubuanga has shown a great understanding of both the importance of the oil and gas sector for the economic development of the Democratic Republic of the Congo for his people and the respect that we must also show towards the environment.

16 The strategy to ensure the safety of both is the gold standard and he urges all stakeholders to support this opportunity for the DRC.” It has been estimated that the value of the blocks to be licensed in the DRC licensing round will have an initial value to the DRC of approximately $650-million (https://bloom.bg/3Ql47EO) which will contribute to the development of the DRC.

17 national agenda that will positively impact the people of the DRC.

18 According to (https://bit.ly/3QrIumf) the Honorable Minister Didier Budimbu, the four blocks along the Tanganyika Valley are forecast to have 7.25 billion barrels of reserves, while the nine offered at Cuvette Centrale have an estimated of 6.4 billion barrels.

19 The Ndunda block off the Atlantic coast has an estimated 130 million barrels, while the Nganzi potentially has 2 billion barrels and the Yema/Matamba-Makanzi 800 million barrels.

20 Once the Expressions of Interest have been submitted, only registered and pre-qualified companies may submit bids.

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