African Energy Chamber (AEC) Engagement in Brazzaville Focuses on Upstream Investment, Société Nationale des Pétroles du Congo (SNPC) Expansion
Zawya · Zawya ·
The African Energy Chamber’s (AEC) (https://EnergyChamber.org/) Executive Chairman NJ Ayuk has arrived in Brazzaville to undertake a working visit to the Republic of Congo, where he will meet with the Ministry of Hydrocarbons to discuss the country’s energy sector and investment priorities. The visit comes as the...
The African Energy Chamber’s (AEC) (https://EnergyChamber.org/) Executive Chairman NJ Ayuk has arrived in Brazzaville to undertake a working visit to the Republic of Congo, where he will meet with the Ministry of Hydrocarbons to discuss the country’s energy sector and investment priorities. The visit comes as the government pursues a major expansion of its oil and gas industry; lifting crude production, growing LNG exports and giving the state-owned SNPC a larger role in upstream operations.
Congo is targeting oil production of 500,000 barrels per day (bpd), a target that stands well-above the current output of approximately 279,000 bpd. Reaching that level will require new offshore developments, investment in existing fields and additional exploration. The government is also seeking to attract investment and participation from independent and mid-sized operators to develop offshore resources and unlock additional production.
“Congo has an opportunity to build on its existing oil industry while establishing natural gas as a major source of export revenue and domestic economic growth,” says NJ Ayuk. “What matters now is bringing investors, operators and local companies together to move projects forward.”