The ZIC of Angola and the Democratic Republic of Congo (RDCongo) brought together on Friday, in Luanda, the ministerial delegations of the countries that oversee hydrocarbons, after signing two addenda at the 5th Angola Oil & Gas Conference and Exhibition (AOG) 2024, which ended on Thursday.
"Today we took stock of the situation regarding the zone of common interest for oil exploration and we now have to submit the last signed documents for ratification by our parliaments", said the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, upon leaving the meeting.
According to the minister, only after the ratification of the aforementioned legal instruments by the parliaments of Angola and DRCongo will practical activity within the scope of the ZIC begin, with the meeting of the technical ministerial committees and subsequent action by the operator.
Angola and the Democratic Republic of the Congo share a vast land, sea and river border and in 2003 signed a Memorandum of Understanding on joint oil exploration in the waters of the lower Congo basin south of Block 14 and north of Blocks 1, 15 and 31.
The deepwater block is operated by Chevron's local subsidiary, Cabinda Gulf Oil Company, in partnership with Eni, Etu Energias and the national oil company Sonangol.
On Friday, both delegations also discussed the mechanisms for the sale of oil derivatives to the Democratic Republic of the Congo, work on which is being carried out between Angola's Sonangol and two Congolese state-owned companies.
"However, we have been analysing some aspects to ensure that this process is carried out even more efficiently and we also took the opportunity to look at issues related to fuel smuggling and see how we can have better mechanisms for collaboration between the two countries", said the minister.
According to Diamantino Azevedo, the Congolese authorities are still interested in Angola's natural gas and want to see the country explore an asphalt sands deposit in the DR Congo, the economic viability of which will be analyzed by the Government, the minister highlighted.
