DRC and Angola nearing Agreement with Chevron for oil and gas block 14c
The Democratic Republic of Congo and Angola have been collaborating for several years to achieve the monetization of a maritime area of common interest, considered rich in hydrocarbons.
The Congolese Minister of Hydrocarbons, Didier Budimbu Ntubuanga, announced on April 13, 2023 that a production sharing agreement is being negotiated. It engages the DRC, Angola and Chevron, the American oil company.
The DRC and Angola share Block 14c, an oil perimeter known as of common interest located astride the territorial waters of two countries. The agreement sought in this agreement should allow the exploitation and monetization of the petroleum resources hosted in this block.
It has already been 15 years that the talks conducted by the two countries on this file have not evolved much due to the interference of the Israeli businessman Dan Gertler on this block in which he held stakes.
The recent signing of the agreement between the DRC and the Ventora group, a Gertler company, obliging it to cede its oil blocks to the country, has made it possible to speed up negotiations with Angola.
According to the Minister, the talks related to the conditions of exploitation of this zone are “virtually at the end”.
The Democratic Republic of Congo has multiplied its initiatives aimed at increasing its oil production plateau, which is currently 25,000 bpd. If the agreement with Angola is made official, the site’s production of black gold should begin no later than two years later.
