The Republic of Congo has approved two key decrees aimed at accelerating growth in the hydrocarbon sector and reinforcing the strategic role of the national oil company, Société Nationale des Pétroles du Congo (SNPC).
During a Council of Ministers meeting held on May 13, the government granted SNPC the new Likouala II exploration permit.
This followed the relinquishment of the original concession by independent oil and gas company Perenco and its joint venture with SNPC, Congorep.
The second decree established the Ikalou II exploration permit, carved out from the former Ikalou/Ikalou Sud concession.
Under the new Likouala II agreement, Perenco will hold a 64.5% stake, Congorep 20.5%, and SNPC 15%.
For the Ikalou II permit, Perenco will operate with an 85% share, while SNPC retains 15%. The Ikalou II permit has been granted a 20-year validity.
These initiatives are part of Congo’s broader energy strategy to raise daily oil production to 500,000 barrels by 2027 and expand natural gas output to 3 million tons annually by 2025.
