DRC and Angola Agree to Jointly Exploit Hydrocarbon Resources in ZIC
The Democratic Republic of Congo (DRC) and the Republic of Angola have agreed on the joint exploitation of hydrocarbon resources in the maritime zone of common interest between the two countries.
It was during a joint meeting held in Luanda from June 20 to 21, 2023 between the two parties represented respectively by their Minister of Hydrocarbons.
During these two days of work, Diamantino Pedro Azevedo, Angolan Minister of Hydrocarbons and Didier Budimbu Ntubuanga from the DRC also discussed the joint mechanism for the exchange of petroleum products.
The first day was devoted to the presentation by the Chairman of the Board of Directors of the National Agency for Petroleum, Gas and Biofuels (ANPG) and the history of the ZIC file, on the one hand.
And on the other hand, that of Sonangol on the state of progress of commercial exchanges in petroleum products between the aforementioned company, Sonahydroc SA and Cobil SA The two delegations are previously on exchanges and the harmonization of the guiding principles of the Production Sharing Contract (CPP) on the ZIC.
The next day, they continued their discussions on harmonizing the guiding principles that underpin the CPP. In addition, the updating of the technical teams as well as the list of Angolan delegations for negotiations with the operator (Chevron).
The Angolan Minister of Hydrocarbons congratulated his Congolese counterpart, Didier Budimbu, for his unfailing commitment to reach the exit door of the discussions that took twenty (20) years.
