Congo Republic Oil Find Could Quadruple National Output

An oil discovery in Republic of Congo could produce nearly 1 million barrels of oil per day, a company involved said on Monday, possibly quadrupling the nation’s output and propelling it into the same league as Africa’s largest producers, Reuters reported. Congo’s cash-strapped energy industry has been boosted by major recent finds from Italy’s ENI and France’s Total , lifting an economy hobbled by debt, civil unrest and corruption, and raising output to about 350,000 barrels per day. Production from the new field, developed by SARPD-OIL in la Cuvette region, could dwarf that, said the company’s marketing director Mohamed Rahmani. A government spokesman did not immediately comment on the discovery. SARPD estimates the field holds 1 billion cubic metres of hydrocarbons, including 359 million barrels of oil, with a potential for daily output of 983,000 barrels, Rahmani said. Read more

Location