The Republic of Congo’s Ministry of Hydrocarbons has announced it is working to improve the attractiveness of taxation in the hydrocarbons sector to fully realize the potential of the country’s hydrocarbons market.

Speaking during the Technical Conference at the inaugural Congo Energy & Investment Forum (CEIF) – From Resources to Revenue: Developing the Republic of Congo’s Gas Sector – Jean-Jacques Ikama, Director General of Oil Economy, Audit and Trading, Ministry of Hydrocarbons, Congo explored the conditions and mechanisms for companies entering the country’s oil and gas sector.

“Oil and gas activities can serve as a basis for the creation and operationalization of a very dynamic local market,” stated Ikama, adding, “We aim to redefine the hydrocarbons sector in our country and improve the conditions of exploration and production.”

In addition to good taxation conditions and guaranteed frameworks, Congo has taken proactive steps to enhance its energy sector’s appeal to investors. The government will launch a new licensing round at CEIF, targeting accelerated oil and gas exploration and production activities.

Meanwhile, Congo’s parastatal Société Nationale des Pétroles du Congo is set to release its Gas Master Plan at CEIF 2025. The plan aims to advance the country’s gas monetization agenda by catalyzing new infrastructure development, including gas pipelines, processing facilities and gas-to-power plants. The plan also seeks to reduce energy imports and raise electricity access, which currently stands at 50%.

A new Gas Code, expected in 2025, will provide a clear legislative framework for gas monetization, fiscal terms and resource management. The draft was presented to gas companies in late 2023 and is set for final approval in the coming months.

Key gas monetization initiatives in the country include energy major Eni’s Congo LNG project and Chinese developer Wing Wah’s Banga Kayo project. These projects highlight the country’s dedication to advancing its energy infrastructure and diversifying revenue streams within the sector.

These efforts positions Congo as an increasingly competitive and attractive destination for global energy investments.