The Republic of Congo expects its Parliament to pass a new natural gas code this month as the country seeks to attract more investment in the sector. Minister of Hydrocarbons Bruno Jean-Richard Itoua emphasized that the future of Congo cannot rely solely on oil but must also rely on gas, placing gas valorization at the heart of the country’s strategy.
The code provides a legal framework for gas exploration, production, and development in the Central African country, which also hopes to double oil production to 500,000 barrels of oil equivalent by the turn of the decade. Gas production in the country has been underpinned by Eni’s offshore Marine XII concession, which contains the Nene and Litchendjili fields currently in production, as well as the undeveloped Minsala and Nkala discoveries.
In August, Eni announced the departure from China of its Nguya floating liquefied natural gas unit for the second phase of its Congo LNG project. This unit will raise current production fourfold to three million tonnes annually by year-end. Itoua described the project as more than just an industrial achievement, calling it a symbol of the country’s determination to diversify its energy mix and strengthen its role on the international gas market.
Besides Eni, Chinese company Wing Wah, French oil major TotalEnergies, and Trident Energy are active in the country. Itoua announced that the next oil and gas licensing round would be launched before the end of the year.
Sources: Oilprice.com, bairdmaritime.com