Oil Reserves of Republic of the Congo Congo Estimated at 2 Billion Barrels

Online, February 23, 2014 (Newswire.com) - The Executive Chairman of the Transparency Initiative Extractive Industries Transparency Initiative (EITI) in Congo, Florent Michel Okoko, announced Thursday, February 20, 2014 in Brazzaville, the country would have the proven hydrocarbon reserves of 2 billion barrels in the presentation ceremony of the 5th EITI report for 2012.

Proved reserves of hydrocarbons of Congo are estimated at 2 billion barrels according to the EITI
"Congo has proved the order of 2 billion barrels," said Mr. Okoko, adding, "the country would count further tar sands large reserves of approximately 2.5 billion barrels, mainly concentrated in the department of Kouilou, south of the country. "

Gas reserves, mainly offshore, they would be about more than 100 billion m3, placing the Congo the 5th largest proven natural gas reserves in sub-Saharan Africa.

With a daily production of about 300,000 barrels of crude oil, 100 million barrels per year, the country was in 2012, the fourth producer of crude in sub-Saharan Africa. Currently, the Congo is facing a decline in its level of production, due to the maturity of some wells; forecasts agree on an average production of about 270,000 barrels per day to the 2020, if significant new discoveries are not made in the short term, says the EITI.

Moreover, the production of butane and propane gas have reached, in 2012, the equivalent of 4 million barrels, resulting from offshore fields and Nkossa Nsoko and exported offshore terminal Nkossa II.

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