DR Congo to auction 10 oil blocks in early 2014

rig ORA NOV12Earlier this year, Eni announced that it had discovered oil and gas at the Nene Marine exploration prospect located in Marine XII Block, offshore DR Congo. (Image source: marianne muegenburg cothern/Flickr)The Republic of Congo National Oil Company (SNPC) has announced that the government plans to auction 10 onshore and offshore oil blocks by early 2014

According to Reuters, SNPC deputy head Alfred Charles Sockath said some of the offshore blocks to be auctioned are situated in the Cuvette Basin.

The licenses will also include several shallow water blocks that have recently been abandoned by some international oil explorers, the SNPC deputy head added.

Data from the US Energy Information Administration revealed that oil production at the DR Congo peaked at more than 310,000 bpd in 2010, before dipping by around 20,000 bpd in 2013.

Earlier this year, Italy’s Eni announced it was on the verge of starting survey work on its 16,000 sq km Ngolo block in the Cuvette Basin. The explorer also said it discovered oil and gas at the Nene Marine exploration prospect located in Marine XII Block, offshore DR Congo.

According to SNPC, production at the Eni-operated Litchendjili offshore gas field is expected to commence by 2017. A part of this output will be used for domestic electricity production and the remainder is expected to be used for a new LNG project that will supply gas to regions like Asia, it said.

 

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