Overview
Congo is the fourth-largest oil-producing country in sub-Saharan Africa and at the end of 2019 produced 350,000 barrels per day. Congo has one oil refinery in the coastal city of Pointe-Noire, which fulfills a small percentage of the country’s domestic needs. Chevron is the only U.S. operator in Congo, and Baker Hughes, Frank’s International, Halliburton, and Weatherford are active in the oil services sector.
|
|
2017 |
2018 |
2019 |
2020 estimated |
|
Total Local Production |
4,277 |
10,602 |
5,845 |
3,526 |
|
Total Exports |
3,624 |
8,690 |
4,676 |
3,013 |
|
Total Imports |
72 |
121 |
67 |
17 |
|
Imports from the US |
n/a |
n/a |
n/a |
n/a |
|
Total Market Size |
725 |
2,033 |
1,236 |
530 |
|
Exchange Rates |
589 |
586 |
556 |
545 |
Unit: Millions of U.S. dollars
Total market size = (total local production + imports) - exports
Data sources: Republic of Congo Ministry of Hydrocarbons
Leading Sub-Sectors
Oil services remain important in both the development of new fields and the maintenance and support of older fields.
Opportunities
Offshore drilling and exploration remain the principal activities, but some opportunities exist in onshore prospection, refining, research and development, and services (e.g., logistics, construction, drilling, maintenance, and supplies).
Resources
The Extractive Industries Transparency Initiative (EITI) is a global standard to promote the open and accountable management of oil, gas and mineral resources. The Standard seeks to address the key governance issues of the oil, gas and mining sectors. In the Republic of Congo, EITI solely focuses on oil and gas.