Currently, Congolese oil production is limited to the Coastal Basin, yielding 25,000 barrels per day of offshore production, all of which is exported. Along with recently identified potential oil fields, the DRC may hold as many as 30 billion cubic meters of methane and natural gas in three major petroleum deposits.
Does Congo have oil reserves?
(AP Photo/Mosa’ab Elshamy) Congo, a mineral-rich nation in central Africa, is thought to have significant oil reserves, too. Drilling has so far been confined to a small territory on the Atlantic Ocean and offshore, but that’s expected to change if the government successfully auctions 30 oil and gas blocks spread 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.
Will Congo expand oil drilling?
The central African nation of Congo is known for its mineral riches. Now the country is looking to expand the oil drilling that so far has taken place only in its far west and off its Atlantic coastline. (AP video: Nqobile Ntshangase/Sebabatso Mosamo)