Congo Approves Key Oil Decrees to Boost Hydrocarbon Sector

The Republic of Congo has approved two major decrees to advance the hydrocarbon sector and strengthen the role of national oil company Société Nationale des Pétroles du Congo (SNPC).

Approved by the Council of Ministers on May 13, the first decree grants the new Likouala II exploration permit to SNPC. This follows the relinquishment of the original concession by independent oil and gas company Perenco and its joint venture with SNPC, Congorep.

The second decree establishes the Ikalou II permit, derived from the former Ikalou/Ikalou Sud concession.

Under the new Likouala II framework, Perenco holds a 64.5% stake, Congorep 20.5% and SNPC 15%. For the Ikalou II permit, Perenco will operate with an 85% stake, while SNPC retains 15%. The Ikalou II permit is valid for 20 years.

These developments support Congo’s goal of increasing oil production to 500,000 barrels per day by 2027 and expanding natural gas output to 3 million tons annually by 2025.