The Republic of Congo is set to pass a new gas code this month, aiming to attract more investment in the sector, which is central to its national development agenda.
Minister of Hydrocarbons Bruno Jean-Richard Itoua emphasized the importance of gas valorization, stating that the country’s future cannot rely solely on oil.
The new code will provide a legal framework for gas exploration, production, and development.
With existing gas production underpinned by Eni’s offshore Marine XII concession, the country hopes to double oil production to 500,000 barrels of oil equivalent by the turn of the decade.
Eni’s Congo LNG project is expected to raise current production fourfold to 3 million metric tons annually by year-end.
Other active players in the country include Chinese company Wing Wah, French oil major TotalEnergies, and Trident Energy.
The next oil and gas licensing round is expected to be launched before the end of the year.
