Investing in Congo’s hydrocarbons sector draws global interest

The Republic of Congo recently hosted the Congo Energy and Investment Forum in Brazzaville, bringing together top global and regional industry leaders to explore investment opportunities in the country's hydrocarbons sector. CNBC Africa had the opportunity to speak with Bruno Jean-Richard Itoua, Minister of Hydrocarbons, Republic of Congo, who highlighted the significance of the event. During the interview, Minister Itoua emphasized the importance of the forum in attracting international investors interested in the oil and gas sector in Africa and specifically in Congo. The event, organized by Energy Capital and Power, known for hosting top-tier oil and gas events in Africa, aimed to showcase Congo's potential in the sector to a global audience. Minister Itoua underscored the need to bring in industry experts and credible entities like Standard & Poor's to validate the country's oil and gas opportunities. The key theme of the forum revolved around promoting investment in the hydrocarbons sector despite growing calls to transition away from fossil fuels. Minister Itoua highlighted the need for continued investment in oil and gas to prevent a collapse in global energy systems. With a focus on deep-water exploration, onshore projects, and marginal fields, Congo is positioning itself as a lucrative investment destination for companies looking for substantial discoveries. One of the main areas of interest at the forum was the potential for gas projects in Congo. Minister Itoua pointed out the ongoing gas projects with major players like E&I and highlighted the importance of gas as a clean energy source. Additionally, the discussion extended to downstream activities, emphasizing the importance of ensuring energy security and access to oil products for the population. The event also featured a deal room where investors could engage in discussions and explore opportunities in various segments of the hydrocarbons sector. Minister Itoua stressed the importance of showcasing Congo's potential in the industry and attracting investments that could drive growth and development in the country. The Congo Energy and Investment Forum provided a platform for stakeholders to discuss the shifting dynamics in the global energy landscape and the role of oil and gas in meeting energy demands. By highlighting Congo's vast hydrocarbons potential and outlining key investment opportunities, the forum aimed to attract capital and expertise that could catalyze growth in the country's sector. As the event concluded, the focus now shifts to translating the discussions and engagements at the forum into tangible investment projects that can contribute to the development of Congo's hydrocarbons sector and drive economic progress in the country. For more updates and news on energy and investment, visit the CNBC Africa website at www.cnbcafrica.com.