Angola’s Ministry of Mineral Resources, Oil and Gas and the Ministry of Hydrocarbons of the Democratic Republic of the Congo (DRC) have signed a revised agreement for the co-development of offshore Block 14.
The agreement was formalized during the opening ceremony of the Angola Oil & Gas (AOG) 2024 conference in Luanda on October 2, with Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, and DRC’s Minister of Hydrocarbons, Aime Sakombi Molendo, in attendance.
Straddling the maritime border between Angola and the DRC, Block 14 has a production capacity of 3.29 million barrels per year.
The deepwater block is operated by Chevron’s local subsidiary, the Cabinda Gulf Oil Company, in partnership with Eni, etu energias, and the Angolan national oil company, Sonangol.
“These agreements outline the conditions for all activities within the shared zone,” stated Minister Azevedo.
“With our new dynamics, we will realize the aspirations of both countries. Angola has experience in such projects, and we are committed to working with the DRC to leverage this expertise.”
Additionally, a second agreement between the finance ministries of Angola and the DRC was signed at AOG 2024 to enhance cooperation in commerce, business, and investment.
This agreement was formalized by Angola’s Minister of Finance, Vera Esperanca dos Santos Daves de Sousa, and Congolese Minister of Finance, Nicolas Kazadi.
It aims to promote innovation, establish financial standards, and foster socioeconomic development in both nations.
