Congo may privatise oil and mining sectors

Dec 04, 2003 01:00 AM

Facing a decline in oil production, Congo (Brazzaville) may privatise its oil and mining sectors, and exploit its gas reserves, the country's energy minister said.
"Given the fall in the production of oil, the development of gas fields... is an economic, social, and environmental must and is an interesting alternative," Energy Minister Philippe Mvouo was quoted as saying. Mvouo added that gas reserves in the central African country were estimated at 92 bn cm (3.2 tcf) at the end of 2001.

Speaking at the opening of an energy meeting in Senegal's capital Dakar, Mvouo was quoted as saying that the privatisation of a large number of economic activities, particularly the country's oil industry, was imperative in the face of foreign donors' demands.
Congo is sub-Saharan Africa's fourth-biggest oil producer after Nigeria, Angola, and Gabon, but is likely to be overtaken soon by Equatorial Guinea. Congo's oil output in 2003 is expected to slip to 11 mm tons -- or roughly 220,000 bpd -- from 12 mm tons in 2002.

Source: Neftegaz.RU
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