- The Democratic Republic of Congo has announced its offer of licensing rights for 27 oil and three gas blocks in the region. The offer will open parts of the world’s second-biggest rainforest to drilling.
On July 28, the Democratic Republic of Congo has announced its offer of licensing rights for 27 oil and three gas blocks in the region. The offer will open parts of the world’s second-biggest rainforest to drilling.
The initial proposal of DRC included only 16 oil blocks. With the steep rise in demand after the war in Ukraine and to exploit the increased global interest in fossil fuels, the country has decided to revise the offerings. With the latest revision, the country is offering 240,000 square kilometres of oil refinery.
Of the 27 oil blocks offered, three are located on the coast of the Congo River basin, nine in the central basin rainforest region, and the remaining 15 are in the east of the country. Two of the 15 are located in the ecologically sensitive Virunga National Park, a sanctuary for endangered mountain gorillas. The three methane gas blocks are in Lake Kivu.
The huge amounts of carbon released into the environment due to the drilling are expected to contribute significantly to global warming. According to Greenpeace Africa, the three of the blocks in the Cuvette Centrale peatlands are a biodiversity hotspot containing about 30 gigatons of carbon, equivalent to three years of global emissions.
The announcement has invited severe criticism from environmentalists and climate change activists. President Felix Tshisekedi who presided over the launch of bidding in Kinshasa assured that modern drilling methods along with stringent regulations would drastically cut the ecological impact.
Political experts point out that environmental impact, regulatory uncertainty, logistical challenges of highly remote exploration, and political uncertainties are some of the factors that may dissuade potential investors.
Also read;
https://trendsnafrica.com/drc-finally-a-member-of-eac/
https://trendsnafrica.com/drc-protesters-want-complete-withdrawal-of-un-peacekeeping-forces/
