Representing a relatively new and largely untapped hydrocarbon market, the DRC stands to learn a great deal from an oil and gas heavyweight such as Angola. With over 5 billion barrels of oil, the Central African country is undertaking an ambitious exploration drive in the hopes of revealing sizeable hydrocarbon deposits and monetizing resources.
In July 2022, the country’s Ministry of Hydrocarbons officially launched its 2022 Bid Round, with 27 oil Blocks and 3 gas Blocks on offer. At the beginning of 2023, the Ministry awarded three licenses for natural gas blocks to Symbion Power (Makelele Block); Winds Energy & Production (Idjwi Block); and Alfajiri Energy (Lwandjofu Block).
While exploration and production (E&P) is largely concentrated in the Congo Basin as well as along the four major lakes bordering Tanzania, Burundi, Rwanda and Uganda, efforts to expand the upstream market even further have opened lucrative opportunities for E&P players and investors alike. AOG 2023 provides a platform for Minister Ntubuanga to provide crucial insight into such opportunities, paving the way for deals to be signed and licenses awarded.
Notwithstanding the promotion of untapped acreage, Minister Ntubuanga’s participation at AOG 2023 will advance discussions around regional collaboration and the role cross-border cooperation plays in strengthening energy developments, facilitating intra-African trade and driving long-term and meaningful economic growth.
Angola and the DRC have enjoyed a long-history of strong bilateral relations, with cooperation expanding the security, social, political and economic sectors. Now, both countries are eager to leverage these ties to accelerate the development of their respective energy sectors, and the AOG 2023 conference will be a strategic platform for the exchange of dialogue in this regard.
“The DRC’s Minister of Hydrocarbons’ participation at the 2023 edition of AOG 2023 is not only a testament to the strategic role the conference plays in advancing dialogue, driving deals and charting a path of development for Africa’s energy sector but speaks to the commitment by the DRC to strengthen its own energy progress on the back of regional collaboration. We look forward to having Minister Ntubuanga in Luanda this September,” states Stephanie E. Benjamin, International Conference Director for AOG.
AOG 2023 takes place under the auspices of the Minister of Mineral Resources, Oil and Gas, H.E. Diamantino Pedro Azevedo, and in partnership with the National Oil, Gas and Biofuels Agency, AIDAC and the African Energy Chamber. The event represents the premier platform to address the most pressing matters across the regional energy sector; to generate new ideas and opportunities; and to make the decisions that will accelerate the growth of both the Angolan and broader African energy sector.
For more information about attendance, sponsorship or partnership opportunities, visit www.angolaoilandgas.com and secure your place at premier platform for the Angolan energy sector.
