Kinshasa - The Angolan minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, said on Thursday in Kinshasa, Democratic Republic of Congo (DRC), that the protocol signed with this neighboring country reiterates the common understanding for oil exploration and production.
The official, who was speaking within the framework of the agreement signed between Angola and the DRC on the Common Interest Zone (ZIC), referred that the protocol will equally benefit both countries.
He made it known that the negotiations, which began in 2020, had been resumed and resulted in the signing of the agreement for the governance and management of the maritime area of common interest, after the production sharing contract model was initialed in June this year, in Luanda, with the main terms to be negotiated with the operators.
After 20 years since the signing of the first memorandum, he pointed out that the two countries must be quick in implementing the agreements reached, as the energy transition, underway globally, is beginning to pose some challenges to the oil industry.
The minister highlighted that after this important agreement of governance and management of the ZIC was signed, the process of negotiations will start between the two concessionaires (National Agency of Petroleum and Gas and Biofuels-ANPG of Angola and the Ministry of Hydrocarbons of the DRC) with the operator, culminating in the signing of the production sharing contract (CPP).
On his turn, the Minister of Hydrocarbons of the DRC, Didier Ntubanga, said that the agreement binds the two countries and paves the way for negotiation of the Production Sharing Contract (CPP) with the group of contractors led by Chevron.
With that, he highlighted, Angola and the DRC become co-owners of the rights over the maritime zone of common interest, with the aim of sharing the benefits equally.
The cooperation protocol for research and production of hydrocarbons in the Zone of Common Interest (ZIC), initialed now, results from several rounds of negotiations between ANGOLA and the DRC.
The protocol contains the management principles of the concession involving the maritime zone of common interest in terms of hydrocarbons.
The third meeting of the Bilateral Commission for the exploitation of hydrocarbons in the ZIC, held in Luanda on the 20th and 21st of June, with the National Agency of Petroleum and Gas and its Congolese counterpart initialed the Contract Model Production Sharing (CPP).
The Common Interest Zone is located in the maritime region between the south of block 14 and the north of blocks 1, 15 and 31, of the Angolan oil concessions.
It comprises indications of accumulation of hydrocarbons (leads), prospects and deposits, present and future in the research phase, cross-border development, in production, released and/or abandoned in accordance with Article 2 Resolution No. 33/08 of April 14.
Among the steps taken to materialize the Final Agreement, there is Resolution No. 19/04 of July 30th, which approves the Memorandum of Understanding signed on June 8th, 2003 and Resolution No. 33/08 of April 14th, which approves the Cooperation Protocol between the Government of the Republic of Angola and the Government of the Democratic Republic of Congo, for the Research and production of
Hydrocarbons in the ZIC.
Resolution n.33 contains the Commercial Agreement that defines the terms of the exploration activity and the general principles that will regulate the production sharing.
The division of interests between the parties in the ZIC is represented by 50% for Angola and 50% for the Democratic Republic of Congo.
Angola shares an extensive land and sea border with the DRC to the north of around
2,511 kilometers. AC/ART/BA/DOJ
