The Republic of Congo officially launched its phase II licensing round for 13 new open blocks during Africa Oil Week in Cape Town.
The blocks are situated in 2 main basins; the coastal and culvette basins. 5 blocks are located in the shallow, deep and ultra-deep areas, 3 onshore in the coastal basin and 5 in the culvette basin, covering Koba, Mbesse, Mboloko, Mboto and Ntsinga. The coastal basin produces 350,000 bpd and is the 3rd largest in sub-Saharan Africa.
Companies have until 30 June 2019 to submit their offers in Brazzaville. The results of the phase 2 licensing round will be awarded in September 2019.
Teresa Goma, director general, hydrocarbons also announced at the 25th African Oil Week the results of the phase I licensing round. Marine 21 was awarded to Kosmos, Marine 27 was awarded to Perenco and Marine 20 to French Total.
In 31 December 2017, oil reserves stood at 496,847,000 bbl (1P) and 2,613,793,000 bbl (2P) and gas reserves 200 bln m3. Congo became an OPEC member in June 2018.