The Republic of Congo plans to launch an international licensing round by early 2025.
The licensing round will present opportunities across various blocks, including marginal and deepwater assets.
The country currently produces 274,000 barrels per day (bpd) and aims to boost output to 500,000 bpd in the near future.
The bid round aligns with these efforts by enticing new players to invest in the market.
“We are working to hold a big licensing round,” said the country’s Minister of Hydrocarbons Bruno Jean-Richard Itoua last week in Cape Town.
“This licensing round offers exploration and production opportunities, positioning the Republic of Congo on the global market. With significant reserves, we’re highlighting our potential to attract investors and drive growth,” he said.
