CAPITAL: Kinshasa
MONETARY UNIT: Congolese franc
REFINING CAPACITY: 17,000 b/cd
OIL PRODUCTION: 29,000 b/d
OIL RESERVES: 187 million bbl
GAS RESERVES: 35 tcf
The Chevron-Unocal-Teikoku joint venture averaged 25,000 b/d of production from seven fields off Congo, where rebels ousted President Mobutu Sese Seko in May 1997 and installed Laurent Kabila as his successor.
Mart Resources Inc., Calgary, signed a letter of intent to buy Collier Ventures Ltd. in late 1997. Collier held 100% interest in a 920,000 acre exploration concession north and east of the Congo River mouth in the Congo salt basin.
Other energy
The International Energy Agency noted that one stretch of the Congo River at Inga has potential to generate enough electricity to satisfy more than half of Africa`s demand. This area is about 200 miles downstream from Kinshasa, about halfway to the Atlantic. Only 6% of Africa`s potential hydroelectric potential had been harnessed.
One African company, however, said gas-powered electricity is cheaper than even the next generation of hydro technology, with hydropwer at 7-11¢/kw-hr, compared with 5¢/kw-hr for a combined cycle, gas-powered plant.
