Perenco’s Subsidiary Discovers New Oil Reserve in DRC Coastal Basin
In 2024, Perenco’s subsidiary achieved a significant milestone by drilling two exploration wells and discovering an oil reserve in the Moke-East well, situated between the Lukami and Motoba fields in the Democratic Republic of the Congo (DRC) coastal basin.
The drilling operations were conducted using the Nuada, a self-elevating class 82 SD-C jack-up drilling rig owned by Dixstone. The well, expected to be completed in the coming weeks, encountered a 24-foot net oil-bearing column, and the discovery will undergo further testing.
Frédéric Kiepferle, Perenco’s DRC General Manager, remarked: “Perenco’s offshore DRC subsidiary, MIOC, has had an active start to the year, marked by drilling the country’s first offshore exploration wells in nearly thirty years.
While testing is ongoing, we are encouraged by the initial results of the Moke-East well. Following extensive preparatory work to ensure safe and successful operations, the Nuada has now moved onto the GCO field, where it will remain active for the next twelve months.”
According to the company, the drilling of the first of twelve wells on the GCO field is part of MIOC’s ongoing development drilling campaign offshore the DRC, aiming to unlock additional hydrocarbon resources. This initiative is expected to be completed in parallel with the CS02 workover unit in the same location.
Moreover, Perenco reported that the second exploration well, LUKS-A, targeting a southern extension of the Pinda formation, has been plugged and abandoned due to insufficient hydrocarbon potential.
“As the DRC’s only international oil and gas producer, we are pleased to demonstrate our commitment to discovering new resources through this investment.
We firmly believe in the positive future of the DRC’s oil and gas industry. New projects could lead to the valorization of LPG extracted from gas for the local market or to provide more gas to power in Muanda,” added Kiepferle.
This discovery follows Perenco’s acquisition of Eni’s interests in several oil permits in the Congo, a deal valued at approximately $300 million.
The company is also undertaking drilling activities at an appraisal well near the Hylia South West discovery, made in December 2022 off the coast of Gabon.
Additionally, Perenco is actively engaged in a five-well development drilling initiative at a field off the coast of Cameroon in Central Africa. The company has recently revealed a redevelopment strategy for two oil assets in the Campos Basin offshore Brazil.
