The Ministry of Hydrocarbons of Congo DR has cancelled a licensing round for 27 oil blocks, originally launched in July 2022. The statement invoked several reasons for the cancellation, including late submissions, inappropriate or irregular offers, and a lack of competition.
The process is expected to be relaunched in the near future, but a timeline has not yet been provided. The auction originally also featured 3 gas blocks, but the ministry did not specify if these gas blocs were cancelled. The concerned oil blocks were located in the Graben Tanganyika, Graben Albertine, the "Cuvette centrale" region and the coastal basin, while the gas blocks are situated on Lake Kivu.
Perenco is currently the sole oil company operating in the country, with an output of 20 kb/d in 2023, mainly offshore in the Costal Basin. The company operates 14 onshore and offshore fields located in the country. The Congolese government targets an eventual oil output of 200,000 bbl/d.
Do you want to become an expert on renewable energies auctions?
Discover our very detailed and regularly updated RES auctions database with worldwide coverage and a technical focus backed by academic research.
With our renewable energies auctions service you will be able to monitor auctions at a global level. Its (expanding) scope notably includes all major G20 countries and offers an especially fine tracking on Europe and South America.