Information service of the Pontifical Mission Societies since 1927
Kinshasa (Agenzia Fides) – Over 100 billion barrels of oil. This is the amount of oil reserves in Africa according to the 4th Congress of the African Petroleum Producers Association (APPA), which opened March 24 in Kinshasa, capital of the Democratic Republic of the Congo. The theme of the Congress is indeed "Over 100 billion barrels of proven oil reserves: Opportunities, challenges and development."
Of the 16 countries of the association, 14 are in the capital of the DRC, which for the first time is hosting the congress of the African producers of crude oil. It is a recognition of the significant petroleum potential of the country, famous for its mineral wealth (from gold to diamonds, from cobalt to coltan), but which has been hitherto on the margins of oil output. The current oil production of the DRC is somewhere between 25,000 and 30,000 barrels per day, while neighboring Angola produces a daily quantity of 2 million barrels.
According to official estimates, the DRC has a significant petroleum potential still untapped. There are three sedimentary basins in the course of exploration activities and three others where potential oil is yet to be ascertained by detailed geological studies. It is a situation which has been recognized by the Congolese Minister of Hydrocarbons, who in his opening speech to the Congress said: "The Democratic Republic of the Congo presents different opportunities to find oil in large quantities through its massive proven and estimated reserves in the "central cuvette" in the sea and in the Graben. In addition, the Lake Kivu in the DRC has enormous amounts of gas, estimated at dozens of billions of cubic meters. We invite investors from Africa and the world of the oil sector to come into our country."
To attract foreign investors, the Parliament and the government in Kinshasa has promised to soon approve a law on the exploitation of hydrocarbons, which should provide a clear legal framework and guarantees to those who will be burdened with the significant financial costs.
The oil is, therefore, an increasingly important resource for many African countries. Should, however, that oil revenues benefit the local population. Unfortunately, the examples offered so far by the major mainland oil producers are not very encouraging, as has often been denounced by local bishops. (L.M.) (Agenzia Fides 26/3/2010)
