Republic of Congo’s Upcoming Gas Policies to Create Investment Security, Says African Energy Week (AEW) 2024 Country Spotlight – Africa.com
The Republic of Congo (ROC) is developing new gas regulations to incentivize investment across the gas value chain. At the same time, the country is preparing to launch the Gas Master Plan (GMP) as a roadmap for investments in the natural gas industry in the Republic of China. These policies mark a key step towards rolling out the necessary infrastructure to spur industrialization and economic growth.
speak at the meeting Invest in Congo energy Maixent Raoul Ominga, Managing Director of Congolese National Petroleum Corporation (SNPC), said “Africa Energy Week: Investing in African Energy 2024” provides a framework for all countries interested in investing in African energy. Gases in ROC. “
In addition to GMP, Ominga also outlined how the country’s upcoming gas regulations will serve as “a mechanism to ensure that the energy sector becomes attractive.” The code allows partners to invest and receive rewards from exploration. “
As the national oil company, SNPC plays a central role in driving oil and gas projects forward. The company is committed to promoting infrastructure development to drive long-term sustainable economic growth.
AA&R Investment Group Managing Director Abdullahi Bashir, Haske said: “We have not even scratched the surface in terms of the potential of ROC. The government has done a good job in ensuring that there is a structured environment for companies to do business. SNPC and regulators join hands Working together to ensure everything is done in a timely and efficient manner, we are actively promoting the rapid development of hydrocarbons.”
The Republic of China has become an attractive investment market due to its significant resource base, forward-looking approach to policy implementation and commitment to low-carbon oil and gas. The country offers plenty of opportunities for new players and many companies have already joined the market. For example, Trident Energy entered ROC in 2024 by acquiring Chevron’s ROC assets.
“Earlier this year Trident Energy signed a PSA into the ROC and we are close to completing these projects. We are delighted to have invested in ROC. We are very confident that we can grow our business model in ROC. Our model is to take over the mid-term assets and Investing in specific technologies to redevelop these assets and increase production,” said Trident Energy Chief Financial Officer Eric Desourtieux.
Additionally, the country’s regulatory environment and industry prospects are motivating new players to join the market. Kariya Energy CEO Gerd Nji said: “We have conducted extensive research on ROC over the past two years and found that there are many things that attract us to invest in this market. Oil and gas infrastructure is key as this will encourage new investment. The government also The right to increase production to a potential 500,000 barrels per day is a good incentive.”
Going forward, the country aims to attract new investments in the growing oil and gas value chain. With GMP and natural gas regulations, the fiscal and regulatory environment in the Republic of China is becoming increasingly transparent, while also making it easier for companies to invest.
Yves Ollivier, managing director of CLG Congo, said: “Gas regulations are being developed to provide legal and tax provisions for the industry. This is more favorable (than previous regulations) and outlines licensing, legal and tax provisions.”
The country’s gas policy also allows existing operators and service providers to strengthen their footprint in the market. For example, both SLB and Halliburton already have strong positions in the market. Antoine Berel, Managing Director, Halliburton Sub-Saharan Africa, explained: “We work together to maximize asset value across our operations. Improving productivity is at the heart of our operations. One of the key enablers we have is the improvement of workflow Digitization and automation of processes.”
Meanwhile, Yannick Mouamba, SLB country director for Congo and Gabon, said: “In terms of ROC, we have a good track record of helping clients develop fields. The ROC is financially attractive. There are a lot of new operators coming on board to provide the country with Offers the potential to increase production.”
Distributed by APO Group on behalf of the African Energy Chamber.
