DRC to Launch 19 Blocks for Tender in Q4 2021
Image: Heshima Magazine
The Democratic Republic of the Congo (DRC) will launch a public tender for 19 onshore exploration blocks at the end of 2021 in a bid to boost exploration activities throughout the country.
According to an announcement by Minister of Energy and Hydrocarbons Rubens Muhima, the DRC will offer 19 oil and gas blocks, representing the first international tender for exploration blocks in the country since the enactment of its new Petroleum Code 2015.
Of the 19 available blocks, nine are located in the Central Basin, three in the onshore Coastal Basin, four in the basin of Lake Tanganyika and three in Lake Kivu.
“We are putting together the data for these blocks, which have proven to be lucrative after major finds in neighboring exploration areas,” said Minister Muhima.
The new Petroleum Code was enacted in 2015 to aggressively transform the country’s energy sector through the provision of clear and attractive policies for foreign investment, and is set to dramatically increase energy developments and associated economic growth.