As of 2021, the Congo has 1,811 million barrels of proven crude oil reserves. Their crude oil production is measured at 267 thousand barrels per day. The accompanying downstream oil industry is an important element in the country’s economy.
Why is Congo offering 30 oil and gas blocks for auction?
(AP Photo/Mosa’ab Elshamy) MOANDA, Congo (AP) — The central African nation of Congo is offering 30 oil and gas blocks around the country for auction. It’s a prospect that concerns environmentalists and some of the people who live near the drilling that has so far been limited to a small area near its far western border on the Atlantic Ocean.
Will Congo expand oil & gas drilling?
The central African nation of Congo is looking to expand oil and gas drilling by auctioning off 30 sites around the country.
What happened to oil production in Congo?
By the turn of the century, production began to decline as existing oil fields reached maturity. As of 2008, oil production has increased every year as a result of several new projects, mainly Congo’s first deep-water field Moho-Bilondo. The Congo is the sixth largest oil producer in sub-Saharan Africa.