The Republic of Congo’s national oil company, Société Nationale des Pétroles du Congo (SNPC), is raising $300 million through regional bond markets to fund hydrocarbon development. Launched in December 2024, the bond offering, titled “SNPC 6.5% Net 2024-2029,” will finance drilling operations in key oil fields, including Nanga, Kouakouala, and Le Mayombe.
Speaking at the Congo Energy & Investment Forum, SNPC’s Finance Director, Vianney Ebenga, acknowledged the challenges of securing international financing for fossil energy projects due to a global shift toward clean energy investments. As a response, SNPC is turning to regional markets for funding.
Fernand Gaboumba Moukengue, Director General of LCB Capital, which is managing the bond issuance, emphasized the viability of domestic financing, stating, “We are considering quickly programming the second tranche of the domestic loan. Companies can safely raise funds through the regional market.”
Source: Energy Capital and Power
