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The Republic of Congo (ROC) is looking at opening an international licensing round in the coming months to entice investment in exploration and production block opportunities.

Speaking during a Fireside Chat at the African Energy Week: Invest in African Energies 2024 conference this week, Congolese Minister of Hydrocarbons Bruno Jean-Richard Itoua said the country is committed to increasing oil production while driving development of its domestic gas industry.

“We are working to hold a big licensing round. I don’t know if we can do this by the end of the year, but I am sure it will happen by the first quarter of next year. This [round] will have exploration and production opportunities, as well as marginal and deepwater opportunities. This will put ROC on the market,” said Minister Itoua.

The ROC aims to increase production to 500,000 barrels per day on the back of renewed investment and collaboration across the industry. According to Minister Itoua, “We are trying to produce more oil. We have high reserves and are working to promote the potential and attract more investors to increase production.”

The licensing round will support these efforts and comes as the ROC implements a series of industry reforms to attract investment and accelerate project development. These include the preparation of a Gas Master Plan (GMP), aimed at maximizing the exploitation of domestic gas reserves. The GMP will serve as a roadmap for investing in the ROC, focusing on infrastructure development including new processing plants, pipelines and power generation facilities.

Additionally, the country is developing a new Gas Code, which aims to facilitate the commercialization of stranded assets and flared natural gas. The code will feature revised fiscal terms to make small-scale projects more economically viable, while incentivizing foreign investment across the gas value chain. 

Prior to the launch of the country’s GMP, the ROC has established itself as an emerging player in natural gas production. The country exported its first LNG cargo from Eni’s Congo LNG project earlier this year and is expected to start Phase 2 of the project in 2025. Targeting three million tons per annum, the project is set to position Congo as a major LNG player in the region.

“Gas is the most viable solution for the energy transition, and we have gas. Last year, we started a project with Eni, with the first phase with a capacity of 600,000 tons per year. By the end of 2025, we will produce three million tons per annum of gas,” said the Minister.

In addition to Congo LNG, the ROC is targeting enhanced LNG capacity through the Bango Kayo integrated gas development. Led by China’s Wing Wah, the $2 billion project will expand the producing Bango Kayo block to monetize previously-flared gas. Over three phases, the project will progressively increase gas treatment and valorization capacity, producing LNG, butane and propane primarily for the domestic market.

“Eni’s project is designed for export to Europe, while the [Bango Kayo] one is dedicated to the local market and bringing additional value. We have a new gas industry starting in the country,” said Minister Itoua.