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Oil: Congo May Soon Outclass Nigeria

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Navy hands over oil thieves to EFCC in Rivers state

While so far the known oil reserves in the Congo were off the coast, new discoveries on the ground give hope to quadruple production in the coming years.

Senegalese petroleum located on the Cuvette Delta deposit, these oil discoveries could add some 983,000 barrels/day to the current Congolese daily production of 350,000. Last Saturday, August 10th, two oil companies presented at Oyo, the home town of President Denis Sassou-Nguesso, the characteristics of the first onshore oil deposit discovered in the Cuvette region of northern Congo.

If these discoveries are confirmed, Congo could move from the third rank to the top producer in sub-Saharan Africa, ahead of Nigeria and Angola.

The two companies behind this excellent news for the Congolese economy are the African Petroleum Research and Distribution Company (SARPD-Oil) and Petroleum Exploration & Production Africa (PEPA), which are responsible for its operations.

These are companies run by Claude Wilfrid Etoka, a Congolese businessman who is very close to President Denis Sassou-Nguesso, both from La Cuvette. This makes the paternity of these discoveries is Congolese.

In terms of revenues, the production sharing agreement grants 35% to the Congolese state, says Mohamed Rahmani, marketing director of SARPD-Oil.

“We are not yet in the production phase, but rather in the last phase of perforation. And in the cuttings that rise to the surface, we found oils, that is to say, oil,”  said Albert Boukoulou Matondo, senior drilling engineer discovered. “I can confirm that we went through reservoir zones impregnated with hydrocarbons. It’s a pure exploration well,” he added.