Congo

Congo unveils tender for exploitation of methane gas on lake Kivu

June 03, 2014 | Congo, Government & Regulations

        Kinshasa, DR Congo | – Democratic Republic of Congo’s oil ministry has called for bids to exploit reserves of methane gas at the bottom of Lake Kivu on its eastern border with Rwanda, the prime minister’s office said on Friday. The office announced the tender on its twitter account but did not give details. An oil ministry official said the tender process had not yet begun but added that Congo needed the gas to help meet its energy deficit. “It is …

British oil firm Soco to begin seismic testing in Congo’s Virunga Park

April 23, 2014 | Company Operations, Congo

Kinshasa, DR Congo | – British oil company Soco International will start seismic tests this weekend in Democratic Republic of Congo’s Lake Edward, an executive said on Wednesday, despite campaigners’ attempts to block exploration in a world heritage site. Conservation group WWF has called on Soco to withdraw from its blocks in UNESCO-protected Virunga national park, saying oil exploration is incompatible with world heritage status and would damage the most bio-diverse park in Africa. “The start date for seismic testing has been planned for April …

Saipem wins $520 million offshore contracts in Congo, Indonesia

February 25, 2014 | Asia, Congo, Contracts

Milan, Italy – Italy’s Saipem has won new contracts for offshore engineering and construction in Congo and Indonesia worth a total $520 million, the Italian oil services group said on Monday. Saipem said parent company ENI had assigned a consortium led by Saipem a $1.1 billion contract to build a floating production unit (FPU) in Indonesia. “The FPU will be delivered at site ready for surf hook-up in 34 months,” Saipem said in a note. In Congo, the group won a contract with Aker Solutions …

Republic of Congo’s oil reserves put at 2 billion barrels of oil

February 21, 2014 | Congo

Brazzaville, Congo – The Republic of Congo has an estimated 2 billion barrels of oil reserves, a report of the executive committee of the Initiative for Transparency in Extractive Industries (ITIE) has shown. The report presented Thursday in Brazzaville showed that the Central African country has proven deposits of 2.5 billion barrels of oil sands in the southern Kouilou province. “The gas reserves, especially in the offshore, are estimated to be over 100 billion cubic meters, placing the country in the fifth position in sub-Saharan …