Expo Dubai 2020: Didier Budimbu touts DRC oil reserves estimated at 22 billion barrels
The Minister of Hydrocarbons of the Democratic Republic of Congo, Didier Budimbu, presented investment opportunities in the Hydrocarbons sector, highlighting the country’s oil reserves estimated at 22 billion barrels.
Present at the Business Forum with the employers of the United Arab Emirates at the Dubai Chamber of Commerce, the Minister of Hydrocarbons, Didier Budimbu, praised, on Monday March 21, 2022, the projects and opportunities to invest in the DRC in this promising sector.
He informed investors in the United Arab Emirates that the DRC is full of enormous potential in this area, which until now has only been exploited at 4.5%.
This reality has indeed motivated the Congolese Government to launch the call for tenders for the 16 oil blocks selected in the three sedimentary basins. These are the coastal basin of about 6,000 km², the basin of the central basin with 8,000 km² as well as the basins of the West branch of the East African Rift about 50,200 km².
Regarding the Downstream oil sub-sector, Didier Budimbu highlighted the attractiveness for investors to choose the DRC for their business in the oil sector.
Didier Budimbu highlighted investment projects in the petroleum product supply chain by improving technical and logistical capacities related to the transport, storage and distribution of petroleum products throughout the Republic.
Among these projects, Didier Budimbu noted the construction via the western route of the DRC of a pipeline network going from Luanda in Angola to Matadi, capital of the province of Kongo Central, then from Matadi to Kinshasa.
The Congolese Minister of Hydrocarbons also mentioned the construction by the southern route of the country of a network still of pipelines going from the Kasumbalesa border to the city of Lubumbashi.
He did not fail to present the project for the construction of stationery for the unloading of oil tankers at better rates from the town of Moanda in order to promote the increase of storage depots for petroleum products across the country in order to meet the growing needs of industrialists in the extractive sector and of the population.
Didier Budimbu, who is keen on the exploitation of the DRC’s oil reserves estimated at several billion barrels, hammered on an attractive parafiscal system, in particular on royalties, superficiality fees, bonuses, income tax, tax on export.
It should be recalled that several other Ministers of the Sama Lukonde Government have presented on the opportunities to invest in the DRC, each in his sector of activity.
The Congolese President, Félix Tshisekedi, is expected, this Tuesday, March 22, 2022, in the United Arab Emirates, as part of this important platform which brings together all the countries of the world to present their investment opportunities and their potential.
