Republic of Congo initiates oil exploration licensing round

The Republic of Congo has launched its latest oil exploration bidding round in Cape Town, offering 18 blocks in deep-water offshore and onshore sites in its efforts to boost production, the ministry of hydrocarbons said on Tuesday.

Operators already in the country, which produces about 350,000 barrels per day (bpd), include oil majors Chevron and Total.

Phase II of the 2018/19 licensing round has five blocks available in the onshore Cuvette Basin, five in shallow offshore sites, another five in deep and ultra-deep waters and three onshore in the coastal basin, the ministry said in a presentation at the Africa Oil Week conference.

Source: Reuters

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