Minister Itoua to Champion Energy Investment and Partnerships at AEW
March 19, 2024
The Republic of Congo’s Minister of Hydrocarbons Bruno Jean-Richard Itoua will speak at this year’s edition of African Energy Week (AEW): Invest in African Energy – taking place November 4-8 in Cape Town. The Minister will engage with stakeholders, international companies and other nations to explore investment prospects in the Republic of the Congo’s hydrocarbon sector.
With an estimated 284 billion cubic meters (bcm) of gas and promising projects such as the LNG Marine X11 coming online, the Republic of the Congo offers a prime opportunity for E&P companies, service providers and stakeholders aiming to capitalize on the country’s natural resources. The nation also aims to increase its hydrocarbon output to 500,000 barrels per day by ramping up exploration activities and partnering with global investors to accelerate energy projects.
AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.aecweek.com for more information about this exciting event.
Already housing global energy giants like Eni and TotalEnergies, which have maintained a longstanding presence in the nation’s hydrocarbon sector, the Republic of the Congo witnessed a strong slate of achievements last year. Eni successfully inaugurated gas operations at the Tango FLNG facility in the country, accomplishing this within twelve months of the final investment decision. With a liquefaction capacity of approximately 1 bcm per year, the Tango FLNG launched its first cargo of LNG to Italy in February.
Additionally, TotalEnergies operates key oil and biofuel assets in the country, including offshore fields like Moho Nord and Nkossa. The company also manages the Djéno oil terminal, demonstrating its experience in the Congolese industry. Moreover, TotalEnergies is set to explore the deepwater Niamou-1 well in the Marine XX block offshore Congo, which boasts significant recoverable resources of approximately 1,400 million barrels of oil and over 2.7 trillion cubic feet of gas.
Demonstrating the country’s successful partnerships, independent hydrocarbon producer Perenco Congo and Congorep – a joint venture between Perenco and the Republic of the Congo’s National Oil Company the Société Nationale des Pétroles du Congo – successfully completed an offshore 3D seismic acquisition campaign in November 2023. This campaign, focusing on the pre-salt layer at depths of 2,000 to 3,000 meters, targets exploration in the Tchibouela II, Tchendo II, Marine XXVIII and Emeraude permits, laying the groundwork for subsequent exploration drilling efforts.
“With strategic investments in its burgeoning LNG sector, Congo has the opportunity to establish itself as a significant player in the global energy market. This transformation not only promises substantial returns for investors but also solidifies Congo’s position as a key contributor to the global energy landscape,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.
AEW 2024 will further unpack these prospects, drawing in new investments, strengthening partnerships, and fostering collaboration for sustainable development in Africa’s energy sector. The conference presents a diverse array of panel discussions, presentations and investor opportunities, all designed to facilitate capital injection, technology development and expertise within African projects. For more information about how you can get involved, visit www.aecweek.com.
