Latest news with #HydrocarbonsCode
Zawya
27-03-2025
- Business
- Zawya
Congo's Hydrocarbons Minister Endorses Congo Energy & Investment Forum (CEIF) 2026, Eyes 500,000 bpd Production Target
H.E. Bruno Jean-Richard Itoua, Minister of Hydrocarbons of the Republic of Congo, has endorsed the continuation of the Congo Energy&Investment Forum (CEIF) through 2026, emphasizing its role in supporting the country's ambitious production targets. During a Fireside Chat with Daisy Portella at the Congo Energy&Investment Forum 2025, Minister Itoua said, 'Considering Congo's objective to reach 500,000 barrels per day in the next three years, I want CEIF to be held annually for the next three years.' Minister Itoua also announced plans to revise the 2016 Hydrocarbons Code to make it more attractive and modern. Minister Itoua announced that the revision is part of the ministry's strategy to enhance oil production by developing marginal fields. 'We are working on revisiting the 2016 Hydrocarbons Code to modernize it and make it more attractive,' he stated. Discussing marginal fields, he outlined opportunities for local companies. 'Marginal fields provide immediate cash flow. They require only minimal additional investment and are within the reach of national companies. 'With the African Petroleum Producers Organization countries, we are considering this approach. Once we master this, we can move on to exploration.' He encouraged local players' participation, adding, 'We want to see national companies become true industrial players. There are opportunities for national oil companies to partner and grow.' Minister Itoua shared the same objective for the Société Nationale des Pétroles du Congo (SNPC), stating, 'SNPC holds some marginal fields, such as Konkuala. I want to see SNPC become the Perenco of Congo. I intend to propose new offshore marginal fields to SNPC.' As part of this strategy, Minister Itoua plans to launch a new licensing round soon to attract investment in deepwater, marginal fields, and gas assets. 'There may be a session soon to launch the new licensing round with Energy Capital&Power. We want to give access to deepwater acreage, some marginal fields, and a special bid round focused on gas,' he stated. The Minister also emphasized the growing importance of gas in the country's energy strategy. 'We have accelerated the adoption of a gas code and we intend to create the Office Congolais du Gaz to serve as a local intermediary for stakeholders in the gas value chain,' he said. 'We are ready to discuss and support any gas project.' Minister Itoua sees gas as a transition fuel that will enable Congo to achieve energy security while highlighting the continued need for fossil fuels. 'Studies show that until 2040, the global energy mix will still require 40% fossil energy,' he noted. 'Africa is working for the world, and gas is now recognized as the ideal transition fuel.' Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
28-01-2025
- Business
- Zawya
Congo's Strategy to Advance Local Content Hydrocarbon Sector
The Republic of Congo is prioritizing local content development within its hydrocarbon sector through a combination of government policy and private sector initiatives. The country's approach aims to maximize domestic benefits from its vast energy resources, with a focus on job creation, technology transfer and building local expertise. Regulatory Framework for Local Content In line with its economic goals, the government has established policies to ensure that Congo's energy sector benefits local businesses and workers. The Minister of Hydrocarbons Bruno Jean-Richard Itoua recently launched a registration campaign for subcontracting and service companies in the oil and gas industry. This initiative is designed to enhance transparency and improve the integration of local companies into the industry. The government's strategy is embodied in the Hydrocarbons Code, which mandates the prioritization of Congolese nationals in the workforce. The law encourages partnerships between foreign oil companies and local enterprises, with a focus on capacity building and knowledge sharing. This regulatory framework is supplemented by the development of a comprehensive law on local content, targeting multiple sectors, including hydrocarbons, mining and digital economy. The aim is to diversify the economy and foster the growth of small- and medium-sized enterprises. Private Sector Initiatives While the government sets the framework, private sector companies are taking proactive steps to promote local content. Energy supermajor TotalEnergies employs around 600 local staff in Congo compared to just 40 expatriates, showcasing it commitment to workplace integration. The company also invests in training and development programs to equip Congolese employees with the skills needed for higher-level roles. In June 2024, TotalEnergies committed $600 million to expand production at the Moho Nord offshore field, with a focus on involving local subcontractors and training programs. Similarly, Italian multinational energy company Eni is investing in local workforce development. As part of its efforts to prepare for the launch of LNG production last year, the company trained 40 Congolese employees in liquefaction technologies. This initiative helped to ensure that Congo has the skilled workforce its needs to manage LNG facilities and reduce reliance on foreign specialists. To further drive local content development, the inaugural Congo Energy&Investment Forum 2025, will be held in Brazzaville from March 24-26, under the patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société National des Pétroles du Congo. The event will bring together government leaders, private sector companies and international investors to discuss progress in integrating local businesses into the energy sector. It will also provide a platform for Congolese companies to explore new opportunities and forge partnerships with global players. Distributed by APO Group on behalf of Energy Capital&Power.
