Petroleum industry in the Republic of the Congo

Oil and Gas dominates the resource sector of the Republic of the Congo (French: République du Congo), also referred to as Congo-Brazzaville, with the petroleum industry accounting for 89% of the country’s exports in 2010.[1] Among African crude oil producers in 2010, The Congo ranked seventh.[2] Nearly all of the country's hydrocarbons were produced off-shore.

Oil and gas

Oil

In the late 1970s, Congo emerged as a significant oil producer, with production expanding considerably during the 1990s. However, by the turn of the century, production began to decline as existing oil fields reached maturity, in 2001. However, since 2008 oil production has increased every year as a result of several new projects coming online, mainly Congo’s first deep-water field Moho-Bilondo. The Congo is the fifth largest oil producer in sub-Saharan Africa. According to the 2012 BP Statistical Energy Survey, Congo had proved oil reserves of 1.94 billion barrels at the end of 2011, equivalent to 17.9 years of current production and 0.11% of the world's reserves. The accompanying downstream oil industry is an important element in the country's economy. The oil industry is predominantly run by foreign companies and is centred on the coastal city of Pointe-Noire where the Congolaise de Raffinage (Coraf) operates the 21,000 bpd Pointe Noire refinery. The refinery has been out of commission for four years and has only recently started operating again.

Oil operators

Perenco

Total

Eni

Eni recently announced that it will launch a pilot Oiuls project in 2012. In 2008, Eni and the Congolese Government signed a deal to explore and develop the oil sands deposit located in Tchikiatanga, with an estimated development cost of $3b. In 2008, Eni began constructing two gas-powered electric power stations. 300 mW power station, Centrale Electrique du Congo, powered from the M'Boundo deposit.[4]

SOCO

Block: Marine XI Location: North Congo Basin, offshore Congo (Brazzaville). The Marine XI Block is situated adjacent to the coast in shallow waters with depths ranging up to 110 metres and covering approximately 1,400 square kilometres. Operational phase: Exploration/appraisal SOCO interest: 40.39% (SOCO EPC – Operator) Project partners: World Natural Resources (23.00%), Africa Oil & Gas (13.11%), Petrovietnam (8.50%), SNPC (15%)

Natural gas

Congo holds the fifth-largest proved reserves of natural gas in the Sub-Saharan Africa, at 3.2 Tcf, A majority of natural gas around 65% is reinjected and 21% flared.

References

External links

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