Generation
RoC Plans to Launch Oil & Gas Bid Round by Q1 2025
The Republic of Congo (RoC) has announced plans to launch an international licensing round by the first quarter of 2025. The licensing round will present opportunities across various blocks, including marginal and deepwater assets.
Currently producing 274,000 barrels per day (bpd), the country is targeting an increase to 500,000 bpd in the near-term. 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 [round] will have exploration and production opportunities and will put the RoC on the market. With our substantial reserves, we aim to showcase the potential and bring in more investors to support our growth.”
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