Luanda, Angola, 1 July – The ambassador of the Democratic Republic of Congo (DRC) in Angola, Eric Paluku kamuvu, said Monday in Luanda that the process of sharing oil in the area of common interest (Congo basin) is already underway.
Speaking to Angolan news agency Angop on his country’s national day Tuesday, the diplomat said that the future sharing of oil exploration in that area was the result of a protocol signed in July 2007, in Luanda.
The ambassador noted that the area of common interest is located in blocks 1, 15 and 30 and south of block 14, the results of which will be shared between the two countries on a 50-50 basis.
He said that article 1 of the agreement outlined the possibility of the parties extending the area to other areas along the coast and noted that the protocol was not being implemented in practice as so far little activity was being carried out in the area of common interest.
He said that the DRC had already ratified the protocol via a law signed off by the Congolese president, Joseph Kabila giving the order for work to begin as outlined in the document signed in Luanda in article 8 which sets a deadline of six months starting from the date of its ratification.
However, he noted that the areas of the territorial sea in the Exclusive Economic Zone and the continental platform had yet to be defined. (macauhub)