Facebook Bankable LinkedIn Bankable
Twitter Bankable WhatsApp Bankable
Bankable
Bankable

MOST READ

African Economies

DR Congo Announces Comprehensive Revision of Petroleum Code to Attract Investors

DR Congo Announces Comprehensive Revision of Petroleum Code to Attract Investors

The Democratic Republic of Congo (DRC) plans a “comprehensive” revision of its Petroleum Code, with the draft reform expected to be submitted to the Council of Ministers within three months before being forwarded to Parliament for adoption, according to Hydrocarbons Minister Aimé Sakombi Molendo in an interview with Jeune Afrique

Molendo explained that the reform is motivated by the failure of the July 28, 2022, tender for 27 oil blocks, which was hindered by an unattractive tax regime, lack of detailed seismic data, and the inclusion of protected environmental areas within the blocks offered. 

Following the Council of Ministers meeting on May 2, 2025, the government announced the opening of 52 new oil blocks for exploration, bringing the total to 55 blocks in the Central Basin after awarding three blocks (Mbandaka, Lokoro, and Busira) to Compagnie Minière Congolaise. 

Minister Molendo emphasized that these blocks have been “detoxified” by removing all protected areas, with technical support from the Ministry of the Environment, aiming to address environmental NGOs’ concerns.

Despite these measures, environmental groups remain opposed. The coalition "Our Land Without Oil," representing over 170 organizations, called for halting the exploration process and canceling the awarded blocks, arguing that the decision conflicts with the DRC’s climate commitments.

US Companies

The Minister of Hydrocarbons, Aimé Sakombi Molendo, affirmed that “the government will no longer back down” in the face of environmental criticisms regarding oil exploration. He emphasized that current policy aims to balance exploration and production with preserving future generations’ interests.

Molendo added that as part of the Petroleum Code revision, the government plans to update geological data to provide investors with a clearer understanding of the country’s oil potential. Seismic operations are scheduled to begin in the coming months to build a reliable and secure database. 

This approach, the minister further noted, draws on recommendations from international oil companies and lessons learned from neighboring countries such as Angola and Congo-Brazzaville, with which the DRC now enjoys technical cooperation.

Minister Molendo also revealed that advanced discussions are underway with American companies specializing in seismic data reprocessing. He views this collaboration as a potential gateway to future partnerships with major American oil firms.

This article was initially published in French by Ronsard Luabeya (intern)

Edited in English by Ola Schad Akinocho

Subscribe to our newsletter (free)

Receive daily news and analyses from the Bankable editorial team.

 
 
dr-congo-secures-27m-from-japan-to-boost-power-supply-in-mont-amba-district-kinshasa
The Japan International Cooperation Agency (JICA) has granted $27 million in non-repayable financing to the SNEL, the power utility of the Democratic...
dr-congo-could-soon-secure-1-5b-from-world-bank
The DR Congo government should soon secure $1.49 billion from the World Bank for four projects. Several preliminary agreements related to the financing...
extended-credit-facility-drc-about-to-secure-260m-from-imf-under-three-year-program
The Democratic Republic of Congo (DRC) is approaching a disbursement of nearly $260 million under its new three-year economic program supported by the...
drc-200m-chinatown-like-project-kicked-off-in-kinshasa
Cité de Chine, a Chinatown-like project in Kinshasa, was kicked off last Saturday, May 10. The Congolese Minister of Industry, Louis Watum Kabamba, laid...

African Economies

MOST READ

Please publish modules in offcanvas position.