GREY:ENGFF - Post by User
Post by
Columbus1494on Nov 16, 2015 12:42pm
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Post# 24295165
SOCO leaves Dr Congo
SOCO leaves Dr CongoSOCO recently decided not to apply for an extension of their hydrocarbon license on Block V
in the east of the country.The seismic they did pointed towards there beeing an oil reservoir there.
That region is very prospective,Uganda has found oil on the other side of teh border.
The reason for SOCO leaving probably was due to critiscism regarding that area being a habitat
for mountain gorillas.According to the new hydrocarbon law Cohydro now will have a 20% carried interest and there is a quite high profit tax.
Congo seems to be a problematic country for other companies than Energulf...
SOCO earlier left Nganzi north of Lotshi.They are still present nearby in Angola,in Cabinda north.
Imo Dr Congo had high hopes with SOCO,I think they could try to compensate SOCO regarding other blocks would they be interested in applying in tenders.
https://uk.reuters.com/article/2015/11/03/uk-congodemocratic-soco-intl-idUKKCN0SS22Q20151103
https://phys.org/news/2015-11-oil-africa-oldest-wildlife-virunga.html