With this huge agreement with United Oil & Gas International (UOGI), an American company and local company ARIES Energies, the DRC will become the largest oil producer in Africa and in the world.
This agreement aims to develop marginal oil fields, a segment often neglected by multinationals but crucial to the Congolese economy.
This partnership is based on a new joint venture, Bomoko Oil & Gas, which will combine the technical expertise of UOGI and the local knowledge of ARIES to sustainably manage Congo’s oil assets.
The project integrates local content standards to support the Congolese economy, favoring the employment of local suppliers and services in all stages of operation.
Oil occupies a crucial place in the DRC economy, representing around 42% of GDP, 80% of exports and 60% of national revenues, according to the World Bank.
The Congolese government seeks to optimize the exploitation of its resources to compensate for the aging of certain deposits and ensure sustainable growth.
Marginal oil fields, often underexploited, constitute a promising segment for Congo, where UOGI’s expertise can make the difference.
By focusing on advanced technologies and careful management of these deposits, Bomoko Oil & Gas aims to optimize production while respecting environmental requirements and promoting local development.
The agreement between UOGI and ARIES Energies symbolizes the DRC’s ambitions to diversify and sustain its oil resources.
This partnership, by integrating foreign technical know-how and local resources, could be an engine of growth for the country, which sees oil as an essential lever for its economic development.
The Democratic Republic of Congo, an oil-rich country
The Democratic Republic of Congo (DRC), is considered one of the richest countries in Africa in terms of natural resources, and is home to the Congo River, the second longest river in Africa, which has significant hydroelectric potential .
It is estimated that it could produce up to 100,000 MW, or almost a third of Africa’s total hydroelectric potential.
Having attracted European powers to its southeastern Katanga region as early as the 19th century, the Democratic Republic of Congo has long been rich in natural resources, with immense mineral reserves scattered throughout the country.
