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The Republic of the Congo has entered into a USD 23 billion agreement with Chinese oil and gas firm Wing Wah to develop the Banga Kayo, Holmoni, and Cayo hydrocarbon blocks. This large-scale partnership aims to significantly raise national oil production to 200,000 barrels per day by 2030, with a long-term goal of extracting over 1.3 billion barrels by 2050.
Signed in August by Congo’s Minister of Hydrocarbons Bruno Jean-Richard Itoua, Minister of State Jean-Jacques Bouya, and Wing Wah President Xiao Lianping, the deal represents a key pillar of Congo’s broader economic and energy development plan. It emphasizes not only crude oil output but also gas monetization, aiming to reduce flaring and strengthen domestic energy use.
The agreement features an integrated approach that includes LNG, LPG, butane, and propane production, as well as scalable infrastructure for gas treatment, power generation, and water management—all designed to benefit local communities. Around 3,000 Congolese workers are already employed on the project, which also promises new job opportunities through a dedicated training center.
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Wing Wah, already active in Congo through its development of the Banga Kayo field, brings extensive experience with 237–250 drilled wells and current output nearing 45,000 barrels per day. The new deal builds on an amended Production Sharing Contract signed last year, laying out a three-phase development plan that highlights the importance of public-private partnerships in Africa’s energy sector.
NJ Ayuk, Executive Chairman of the African Energy Chamber, praised Congo’s aggressive strategy, saying it offers a model for other resource-rich African nations seeking to harness their energy potential for long-term economic growth.
