28 June 2017, Sweetrude, Lagos – The Republic of Congo plans to offer new acreage under a licensing round that would be unveiled in October
It is a follow up to a previous deep-water licensing exercise that is yet to be concluded.
The country’s Hydrocarbons Minister Jean-Marc Thystere Tchicaya is expected to announce modalities for the new licensing round in October.
Of the several companies that lined up for the deep-water acreage on offer in the previous licensing round, only seven confirmed interest the acreage. They are currently negotiating the final terms of the production sharing contracts with the government,
Thystere Tchicaya, officially launched a new oil and gas licensing round on October 28, 2015. The licensing round was originally expected to be completed in 2016.
Some ten onshore and offshore oil blocks were to be made available, including blocks in the Coastal and Cuvette Basins.
The government indicated that the licensing round is to be governed by the new Petroleum Code.
