Angola and DR Congo negotiate oil block in common marine zone

7 February 2013

Angolan state oil company Sonangol and its Congolese counterpart Congolaise Hydrocarbures (Cohydro), the state oil company of the Democratic Republic of Congo (DR Congo), continue to negotiate the development of a block in the marine zone common to the two countries, the Congolese Oil Minister said.

“We are in talks with the Angolan authorities to see how the two national companies, Sonangol and Cohydro, can start prospecting and exploring the block”, said Minister Crispin Atama at IPAD DRC 2013, an international conference on mining resources held in Kinshasa, the country’s capital.

“I think negotiations are going well”, the minister added, according to financial news agency Bloomberg.

Nessergy Ltd, owned by Israeli businessman Dan Gertler, is involved in developing the block that is the basis for a production sharing agreement signed in 2006, according to the contract published on the DR Congo Mining Ministry website. (macauhub)