New oil law, bid rounds in prospect as DRC promises greater transparency

Democratic Republic of Congo’s hydrocarbons prospects are so attractive that a few companies remain apparently unconcerned about the lack of regulatory structure for the industry or bloody Mai Mai and other insurgencies that might upset their operations. Canada-based Alberta Oilsands and Pan African Oil in January signed a production-sharing agreement to explore Block 5 (Kalembie) and Block 6 (Fatuma) on Lake Tanganyika. Pan African chief executive Gary Wine told African Energy the companies were “basically in a memorandum of understanding stage at the moment”.