Angola and the Democratic Republic of the Congo (DRC) have strengthened their cooperation in the oil and gas sector by signing a co-development agreement for offshore Block 14.
The agreement, finalised at the Angola Oil & Gas (AOG) 2024 conference, was signed by Angola’s Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, and the DRC’s Minister of Hydrocarbons, Aimé Sakombi Molend.
Block 14, which straddles the maritime border between the two countries, has a production capacity of 3.29 million barrels of oil per year. The block is operated by Chevron’s subsidiary, the Cabinda Gulf Oil Company, in partnership with Eni, etu energias, and Angola’s national oil company, Sonangol.
Minister Azevedo emphasised Angola’s experience in similar collaborative projects and expressed optimism about realizing the potential of this shared venture with the DRC. Additionally, Angola and the DRC’s finance ministries formalized a second agreement at the event, aimed at improving bilateral cooperation in commerce, business, and investment.
Angola’s Minister of Finance, Vera Esperança dos Santos Daves de Sousa, and DRC’s Minister of Finance, Nicolas Kazadi, signed this agreement, which aims to foster innovation, improve financial standards, and promote socioeconomic development in both nations.
