Strategic Petroleum Permits Set to Accelerate Congo’s Rush Toward 500,000 Barrels Per Day Target
The Republic of Congo has taken a decisive step to revitalize its hydrocarbon sector with the approval of two critical decrees that dramatically strengthen the position of the national oil company, Société Nationale des Pétroles du Congo (SNPC).
In a landmark decision on May 13, the Council of Ministers greenlit the new Likouala II exploration permit, transferring it to SNPC following relinquishment by independent operator Perenco and its joint venture Congorep. The restructured ownership allocates a 64.5% stake to Perenco, 20.5% to Congorep, and 15% to SNPC.
Simultaneously, the government established the Ikalou II permit, derived from the former Ikalou/Ikalou Sud concession. This 20-year authorization grants Perenco an 85% operating stake while securing a 15% position for SNPC.
These bold regulatory moves support Congo’s ambitious roadmap to boost oil production to 500,000 barrels per day by 2027 and expand natural gas output to 3 million tons annually by 2025. The strategic repositioning of SNPC in these permits reflects the government’s determination to maximize national participation in the country’s energy renaissance.
Source: energycapitalpower.com and oilreviewafrica.com
