Congo's national oil company, Societe Nationale des Petroles du Congo (SNPC), gains a solid ground as two significant laws supporting the country's hydrocarbons industry receive approval of the Council of Ministers
The first law now recognises SNPC as the owner of the new Likouala II exploration permit, following Perenco and Congorep's (a joint venture between Perenco and SNPC) handover of shares. With the new structure, Perenco's shares stand at 64.5%, Congorep at 20.5%, and SNPC at 15%.
The second law allows the Ikalou II permit that comes from the Ikalou Sud concession. With this permit that is valid for 20 years, SNPC retains a 15% stake following Perenco's 85%.
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Congo Council of Ministers approve hydrocarbons laws. (Image source: Adobe Stock)
