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140,000 bopd accounts for approximately a half of Congo's oil production. (Image source: Adobe Stock)

TotalEnergies will be investing US$600mn for exploration and production upkeep of Moho Nord field in the Congolese deepwaters

At roughly 140,000 barrels of oil per day, the Moho Nord field accounts for approximately half of oil production from Congo.

With four reservoirs spanning across 320 sq km in water depths of 750m to 1,200m, TotalEnergies is working towards ensuring an additional production of 40,000 bpd, taking the country's yeild count to 267,000 bpd.

Following an acquisition agreement with Trident Energy, TotalEnergies will enjoy majority operational stake in the Moho permit with 63.5%. Trident set up shop in Congo this April following its acquisition of the entire issued share capital of Chevron Overseas (Congo) Limited.

Besides work in Moho Nord, this year TotalEnergies is expecting production from offshore Marine XX permit

Two drilling rigs have already arrived to start production from almost 2,000m water depths in an area of 3,285.8 sq km.

Gas Master Plan

The Republic of Congo's national policy game is going strong with its proposed Gas Master Plan and a strategic partnership with Algeria. The partnership will enable the respective national oil companies, Sonatrach and SNPC to share downstream expertise. They have also plans to develop an African Energy Bank to invest in oil and gas projects across the continent.

The concept of Gas Master Plan was introduced by Congo‚Äôs Ministry of Hydrocarbons and passed with heightened enthusiasm during the Invest in African Energy 2024 summit in Paris. To facilitate a more streamlined approach in leveraging the country's gas assets, Eni sold its participation interests in several upstream permits in Congo to Perenco, early this year. 

A collaboration between SNPC and Wood Mackenzie, the Gas Master Plan is currently in its final stages. Once operational, it will not only incentivise the development of the national gas sector by encouraging commercialisation of stranded assets and flared natural gas, but also serve as roadmap to harness gas resources for domestic consumption and export. It will establish a new gas code, making current fiscal terms more flexible, especially for small-scale projects.

SNPC CEO Raoul Ominga has been working closely with the Ministry to get final approval on the Gas Master Plan, which is expected this month.