Page 28 - Nigeriaone mag 2 edition en

DRC: increasing oil production to overcome the crisis?

DRC on earth globe

Kinshasa will launch an inter- ase production from 22,000 Annual economic growth in the
national call for tenders inten- barrels per day to 200,000 DRC is estimated at 6.3% for the
ded for foreign investors in a barrels per day. next two years. The authorities
few days, after adopting a pro- Though in theory the project are confident that this expecta-
ject in April 2022 to increase should benefit the country's tion is mostly based on the con-
state revenues. The country is economic development, voices tribution of the extractive in-
looking to operate 19 oil and are already being raised within dustries. The Ministry of Hydro-
gas exploration blocks. The set- civic society and fear the impact carbons has also shown a
ting up of this program is ruled that such a policy will have on strong commitment with its
by the oil code adopted in 2015 the forests of the Congo Basin. average contribution to the na-
by the DRC. According to Didier tional budget estimated at 10%.
Budimbu, the Congolese Minis- The latter has a strong ambition
ter of Hydrocarbons "the objec- to become one of the key minis-
tive is to become one of the hy- tries and is already preparing to
drocarbon giants in Africa and do so.
I think we will achieve it becau-
se the potential is there, at all A meteoric growth of oil
levels." production
Although the extractive industry 16 oil blocks. This represents
is a major contributor to go- the number of blocks involved
vernment revenues and growth, in the first phase of the govern-
the current global context lends ment's project through the Mi-
itself to increased oil produc- nistry of Hydrocarbons in the
tion. The country has particu- DRC. While the increase in the
larly ambitious goals: to incre- Kinshasa, DRC price of petroleum products is

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