Congo’s new hydrocarbons code offers a favourable framework for all stakeholders and is aimed at consolidating petroleum production, encouraging continued exploration and production and promotion of local content. During this session, key players will outline the following:
The Republic of Congo is currently promoting eight open blocks in the deep and ultra-deep offshore of the Coastal Basin together with five blocks contained in the onshore Congolese Cuvette Basin. A fully transparent bid round has been launched with the results expected in May/June 2017. The new promotion of open blocks in the shallow offshore (5 blocks) and onshore areas of the Coastal Basin (4 blocks) will start in 2017. This promotion will consider the pre-salt and post salt plays on the near offshore.
Output is approximately 23,000 b/d, via 14 mature fields located both onshore and offshore in the Lower Congo Basin. During this session speakers’ will consider the value add to Congo’s hydrocarbons production through mature fields and Farm in Opportunities
According to the new petroleum code, creating employment & wealth for the Congolese population is a priority. This includes the employment and training of Congolese workers, promotion and utilisation of local services and ensuring that at least 25 per cent of development and production costs are of local origin. National private companies should also now have interests in new oil licenses (15%) and old licenses (25%).
During this session, oil companies currently in the Republic of Congo will provide an update on their current activities, future expansion plans and local content strategies.
Financial investment and long-term commitment is vital for transformative expansion of the hydrocarbons industry. Given the instability of commodity prices in recent years, funders are more likely to invest in areas that offer transparency and an attractive investment environment. Industry experts will discuss the opportunities for funding in the region, the impact of the new petroleum code and why the Republic of Congo is of interest.
The Republic of Congo has reduced the percentage of associated gas flared from 60% in 2008 to 16% in 2015. This trend has continued beyond 2015 enabling Congo to meet its commitments to reduce the emission of greenhouse gases under COP21 agreement. Congo is valorising its gas through projects such as: power plants, gas to industry, gas to petrochemicals, and gas exports. During this session, panellists will consider strategies and project pipelines that will allow the country to diversify from oil and develop a viable gas industry.
Developing downstream activities such as i.e. petroleum refineries, petroleum product distribution, retail outlets and natural gas distribution companies can further increase revenue from the hydrocarbon sector for both private and public players. Industry players will discuss current downstream projects and opportunities.
Technology is changing at a rapid rate across the oil, gas and hydrocarbons processing spectrum. During this showcase session, service companies will discuss their technology and innovative products that will benefit the industry.
Developing and monetization of oil and gas requires solid, well maintained associated infrastructure, including access to power, transport corridors, storage facilities etc. This infrastructure development also allows for additional opportunities for project developers and sub-contractors.
Any country that has oil and gas, faces concerns around social conflicts and environmental impact. What strategic steps has government implemented and how can the public and private sectors work together?
Workshops to be confirmed shortly