iPAD DRC Oil & Gas Forum Returns to Kinshasa as the World Takes Note of Country’s Untapped Oil Potential

Kinshasa, Congo (Kinshasa), June 14, 2014 --(PR.com)-- The Democratic Republic of Congo’s Prime Minister, HE Matata Ponyo Mapon, and the Minister of Hydrocarbons, HE Crispin Atama Tabe, are heading up the high-level iPAD DRC Oil & Gas Forum taking place in Kinshasa from 10-11 September.

“The DRC is on the brink of an exciting breakthrough with regards to its hydrocarbons sector,” says Nicole Smith, event director of iPAD DRC Oil & Gas Forum. She adds: “the law regulating the DRC's oil and gas sector is expected to be adopted soon, requiring all potential investors to go through a tender process. It will be the first time the DRC has passed legislation specifically to control its oil production. Currently the country produces only around 28,000 barrels per day, but in neighbouring countries to the east and west are oil rich areas. Currently the DRC is playing a crucial, regional geopolitical role in the sector but is widely regarded as the next oil and gas hot spot.”

According to Smith, “the DRC has significant oil reserves along the Atlantic coast, the Central Basin and Rift Valley (Lake Albert and Lake Tanganyika). Growth opportunities for oil companies are crucial, and the Congolese government believes that the fruits of the oil exploration will contribute to half of the country revenues by 2016.”

High-level government and industry buy in
“A great opportunity for the DRC to promote its potential, its legislation and its legal structure in order to allow different investors and companies to come and invest in our oil and gas sector” is how Jean Muganza, Chief of Staff of the DRC’s Ministry of Hydrocarbons, and speaker at iPAD DRC Oil & Gas Forum describes the September gathering of government regulators, industry experts and regional stakeholders. He continues: “it will also allow foreign investors to make contacts with private, local companies and obviously the authorities that are entitled to negotiate, make decisions and deliver permits in this sector.”

So far, industry stalwarts Perenco, Baker Hughes, Schlumberger and Cohydro have also confirmed their presence at the forum.

Programme highlights include:
• Opening Session:
- Contribution of the oil sector to the emergence of the DRC and the Sub-Region
Chairman: Association of African Petroleum Producers (APPA), Republic of Congo: HE Gabriel Dansou Lokossou, Executive Secretary
- Welcome address and overview of the economic growth of the DRC
Prime Minister, DRC: HE Matata Ponyo Mapon, Prime Minister, DRC
- The hydrocarbon sector in DRC - vision and perspectives
Ministry of Hydrocarbons, DRC: HE Crispin Atama Tabe, Minister, DRC

• Overview and impact of the new law: what’s next?
Ministry of Hydrocarbons, DRC: Jean Muganza, Chief of Staff

• Analysis of the legal system: conditions of the oil taxation
Directorate General of Taxes, DRC: Dieudonné Lokadi Moga, Managing Director

• Exploration in DRC and border countries
Chairman: Extractives Industries Transparency Initiative, DRC: Mack Jeremy Dumba, National Representative

• Federation of Congolese Enterprises (FEC) for local industry development, DRC:
Mukuna Georges, President of the National Committee on Petroleum

• Environmental issues related to operations process
- Ministry of Environment, Nature Conservation and Tourism, DRC:
Emery Mbantshi, Environmental Expert
- Democratic Republic of Congo National Commission for UNESCO, DRC:
Liema Ibongo Botie-Lazare, Permanent Secretary

Event dates and venue:
Conference: 10-11 September 2014
Venue: Fleuve Congo Hotel, 119 Boulevard Tshatshi, Kinshasa Gombe, DRC