The Ministry of Hydrocarbons of the Democratic Republic of Congo (DRC) has officially opened today a new Bidding Round for 30 blocks across the country. The blocks are spread out across five different basins: Cuvette Central, Coastal Basin, Lake Tanganyika, Lake Kivu and the Albertine Graben. The Bid Round is supported by Xcalibur Multiphysics and is expected to close in April 2023.
Interested parties are requested to send Expressions of by January 31st, 2023. Only registered, pre-qualified companies will be able to bid.
According to authorities, the DRC contains oil resources estimated at around 22 billion barrels of oil and 66 billion barrels of methane gas in Lake Kivu. Independent operator Perenco already produces small quantities of oil and gas there, estimated at 25,000 barrels of oil equivalent per day (boepd).
This marks the third bidding round to be launched in sub-Saharan Africa over the past 12 months after Mozambique in November 2021 and Sierra Leone in May this year.