Congo: Signature of an amendment to the associated gas production sharing contract

In Brazzaville, the Minister of Hydrocarbons, Bruno Jean Richard Itoua, and the Chairman and CEO of the Wing Wah oil company, Xiao Lianping, officially signed an amendment to the production sharing contract, marking the start of the associated gas development project.

Mr. Xiao Lianping outlined the stages of the project, with three distinct phases: the first phase, starting next August, will focus on the actual launch of production. The second phase, scheduled for February 2025, will focus on commercialization, while the third phase, in December 2025, will also cover distribution and marketing.

Expressing his satisfaction at the conclusion of this agreement, Mr. Xiao Lianping emphasized that the project would strengthen ties between Congo and China, illustrating the "One Belt, One Road" initiative. He also noted that this initiative will propel Congo's oil sector into a new phase of development.

Following the signing, the General Manager of the Ammat oil company, Mr Massimiliano Mignacca, and the Chairman and CEO of Société Africaine de Recherche Pétrolière et de Distribution (Sarpd Oil), Mr Claude Willy Etoka, also signed the amendment to the production sharing contract.

Speaking at the event, the Minister of Hydrocarbons emphasized the importance of this initiative, which will begin in the first quarter of 2023 and consists of additional production sharing agreements with oil companies.