CONGO ENERGY AND INVESTMENT FORUM

Conference and Exhibition

Serving as the inaugural edition, the forum underscores the Republic of Congo's growing role in Africa's energy landscape. Under the leadership of Minister of Hydrocarbons Bruno Jean-Richard Itoua, the country has affirmed its commitment to maximizing its energy potential and streamlining licensing and regulatory processes, leading to a series of recent acquisitions and project developments. As sub-Saharan Africa’s fourth-largest oil producer – with a daily output of 280,000 barrels expected by the end of 2024 – the Congo has attracted a new wave of independent explorers and investments across its energy value chain, rivaling neighboring oil giants like Angola and Nigeria. 

Congo's national oil company Société Nationale des Pétroles du Congo (SNPC) is leading Congo’s energy growth. Among its many projects across the hydrocarbons value chain, the company holds a majority stake in the Mengo Kundji Bindi II permit, with an estimated 2.5 billion barrels of oil. SNPC's initiatives in this field encompass the development of 13 wells, extensive 3D seismic data acquisition and the construction of six production platforms.  

TotalEnergies announced in May 2024 that it would invest a further $600 million in its projects in the Republic of Congo, where it is the largest oil producer. The company had stated the previous month that it would increase its stake in the Moho-Bilondo field by 10% to 63.5%. TotalEnergies also operates the deepwater Marine XX permit. In April 2024, Trident Energy entered the Congolese market through its acquisition of Chevron’s Congolese assets, including non-operated interests in the Moho-Bilondo, Nkossa and Nsoko II fields, as well as a 15.75% operated interest in the Lianzi field. In March 2024, oil and gas independent Perenco acquired several oil permits from Eni's portfolio for $300 million – adding to its existing in-country portfolio that includes assets in the shallow water Emeraude, Yombo, Likouala, Pointe Noire Grand Fond Sud and Baotou oil fields.  

The upcoming Congo Energy & Investment Forum will provide critical insights into the country’s latest upstream developments, including perspectives from crucial service sector partners such as Baker Hughes and SLB as well as from E&P firms, and connect investors with new projects on- and offshore.  

The Republic of Congo boasts over 10 trillion cubic feet of proven natural gas resources and has defined a medium- to long-term strategy for their utilization, focused on increasing production, monetizing flared gas, and developing advanced processing facilities. The country is targeting 3 million tons of LNG per year by 2025 from Eni’s Marine XII development, which involves the installation of two FLNG units at the Nenè and Litchendjili fields. In February 2024, Congo exported its first LNG cargo from the Tango FLNG facility – phase one of the broader Congo LNG development – with a second unit expected to be operational by the end of 2025, adding a capacity of 2.4 million tons per year. 

Meanwhile, Chinese company Wing Wah Oil is leading the development of the multi-phase Banga Kayo onshore project, which aims to produce 30 billion cubic meters of associated gas over a period of 25 years, transforming flared gas into dry gas, natural gas, LNG, LPG and polypropylene. The first phase of production is set to begin in 2024.   

To fully leverage its untapped gas potential, the Ministry of Hydrocarbons is soon to release a new Gas Master Plan, aimed at consolidating the position of existing E&P companies and attracting new investments to the sector. The plan will serve as a roadmap to harnessing the Congo’s gas resources for both domestic consumption and export, with a view to boosting gas utilization and diversifying crude oil revenues. In 2024, the Ministry is also planning to establish a national gas company and adopt a new Gas Code, set to facilitate the commercialization of stranded assets and flared gas and make small-scale projects more economically viable through amended fiscal terms.  

“In partnership with the Ministry of Hydrocarbons and with the support of the African Energy Chamber, we are dedicated to making this forum a landmark event. The inaugural Congo Energy & Investment Forum highlights the nation's immense potential and latest achievements in the energy sector. The goal is to establish a platform that not only showcases the investment opportunities within the Congo, but also promotes international cooperation and long-term partnerships,” says James Chester, CEO of event organizer Energy Capital & Power