License extended for block off Congo (Zaire)

Muanda International Oil Co., a subsidiary of Perenco, has reached an agreement with the government of Congo (former Zaire) extending by 20 years the license covering the Offshore DR Congo Block, reports partner Inpex Corp., Tokyo.

The new expiration date is Nov. 21, 2043.

Ten oil fields on the block produce a total of about 11,000 b/d. Water depths are 4-20 m. Production began in 1975.

Muanda International operates the block with a 50% interest. Inpex subsidiary Teikoku Oil (DR Congo) Co. Ltd. has a 32.28% interest. Chevron Corp. holds 17.72%.

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