Perenco Rep and Mioc General Manager Reza Mered says the company’s“win-win” partnership that it maintains with the DRC government isessential to achieve set growth targets, adding “in particular theimplementation of a serene business climate and a solid and modernlegal framework in respect to the commitments of the State, whichguarantees stability.”
Perenco Rep is the gold sponsor of the upcoming iPAD DRC Oil & GasForum taking place in Kinshasa from10-11 September. The DemocraticRepublic of Congo’s Minister of Hydrocarbons, HE Crispin Atama Tabe,is heading up the high-level gathering which will also includegovernment regulators, industry experts, regional stakeholders andprospective investors.
Only operator in production in DRCPerenco has been present in DRC for fifteen years through itssubsidiaries Perenco Rep and Mioc. Says Reza Mered: “we operatelicenses on the littoral in the vicinity of Muanda in the province ofBas-Congo with an average daily production of 25,000 barrels. We arecurrently the only operator in production in the country, as well asbeing a prominent economic and social actor contributing significantlyto the DRC national budget. We also actively take part to theExtractive Industries Transparency Initiative (EITI).”
The company is currently also in the process of looking at newoffshore areas to develop, says the Perenco Rep General Manager: “wecount on the active support of the Ministry of Hydrocarbons and theGovernment to obtain the necessary authorizations of our neighbour,Angola, to conduct seismic acquisition. This campaign will enable usto identify new prospects, potentially leading to explorationdrilling. This is an essential preliminary stage if we wish toincrease our reserves and our production.”
Perenco Rep and MIOC also have a gas valorisation project that wouldfeed a power plant to feed the national grid. Reza Mered explains: “itis a headlight project which shows again the firm will of the companyto seek and find solutions for innovative and realistic developmentwhile fulfilling the requirements of integration and respect of theenvironment. Perenco has expertise in the development of suchprojects, having already completed similar initiatives successfully inGabon and Cameroon.”
“The best is yet to come”According to Reza Mered “the oil industry in the DRC has beautifuldays ahead of it. The best is yet to come.” He advises prospectiveinvestors to have “rigor, perseverance and a permanent and sinceredialogue in particular with the department in charge to ensure supportfor the companies in the sector that wish to invest in the country.”
“The iPAD DRC Oil & Gas Forum has become one of the key events forcompanies operating in this sector in Democratic Republic of Congo”,says the Perenco Rep and MIOC executive.