Country Information
New Age positions in two offshore oil and gas licences of Marine XII and Marine III in Congo (Brazzaville) (Image: New Age)
Congo (Brazzaville), sub Saharan Africa's third largest oil producer and which previously reiterated its desire to “further develop [its] mining sector to ensure the renewal of reserves of liquid and gaseous hydrocarbons,” launched its second phase of promotion of 10 coastal basin offshore blocks in shallow, deep and ultra-deep water.

Fast-tracking of Congo’s upstream development program is critical for the country’s effort to supplement production at mature fields and “recover the declining hydrocarbon reserves as more production wells mature.” The country has an estimated 1.6 billion barrels of proved crude oil reserves.

“Over the past few years, oil production decreased as a result of natural declines at mature fields,” says US’ Energy Information Administration (EIA).

“A few deepwater projects are slated to come online in the next five years, but in the near term oil production is expected to continue to fall,” added EIA.

Currently, Total and Eni, which have been present in Congo Brazzaville, since 1968, are the leading hydrocarbon producers accounting for nearly three-fourths of the country’s total oil production, according to EIA.