The Republic of Congo is in the process of revitalizing its oil and gas industry. The country aims to double its oil production to 500,000 barrels per day (bpd) by 2027 and to monetizing its natural gas resources. The central African State is attracting international expertise to achieve these ambitious goals, Yachtze Luchin, President and CEO of Unite Oil & Gas, shared insights on the company’s strategic plans, including key collaboration and its focus on boosting production and investment opportunities.
“We see this as an exciting opportunity to contribute to the Congo’s energy ambitions, he comments. Through our technical expertise, strong local partnerships, and commitment to resource development, we plan to drive production growth in line with the country’s goals. We are focused on optimizing existing assets and identifying new opportunities to help the Congo reach its targets” he explains.
Partnership Prioritising Quick Wins:
Unite Oil & Gas have identified key assets in the Congo, although negotiations for these are still ongoing. BOMOKO is a long-term partnership combining technical expertise, financial strength and political connections, positioning them to move towards achieving the oil expansion goals. “We are focusing on both onshore and shallow water assets, with a long-term view of boosting the Congo’s oil and gas sector”, Luchin comments.
The approach is to prioritize proven reserves first with focus on assets with short revenue cycles, favouring onshore and shallow water developments, rather than those requiring deep-water exploration.
Drilling and Investment Milestones targeted?
Unite Oil and Gas have embarked on a technical service contract with SNPC covering three onshore fields: Kouakouala, Nanga 1, and Mayombe, with initial workovers that have already delivered results exceeding expectations, and one well now producing over 400% of its anticipated output according to Luchin. “We aim to drill further exploration wells and progress to full-scale development in the coming years, with investments required to bring resources to market, including wells, processing facilities, and pipelines” He says.
Target Output of 25,000 bpd by 2026:
In addition to their operations in the Congo, they are also expanding their footprint in other African countries. The expansion strategy revolves around supporting local oil companies and partnering with national governments to develop smaller but profitable resource accumulations. “This “No Molecule Left Behind” initiative is key to our growth and aligns with both national and regional energy development goals” says Luchin.
