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Nigeria's Pelfaco signs oil production sharing deal with Congo Republic

Published 11/06/2019, 18:51
Updated 11/06/2019, 19:00
Nigeria's Pelfaco signs oil production sharing deal with Congo Republic
TTEF
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ENI
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BRAZZAVILLE, June 11 (Reuters) - Nigerian private oil and
gas company Pelfaco signed a production sharing deal with Congo
Republic's state energy firm on a 32-million barrel oil field on
Tuesday, Congo's oil ministry said.
Pelfaco is run by Gesi Asamaowei, a little known businessman
from Nigeria's oil producing Niger Delta region who benefited
from a government push to try to bring more of the energy
industry in Africa's top producer into indigenous hands.
The Congolese ministry said in a statement that the field in
the south of the country would last for 25 years. It gave no
further details.
Congo's energy industry has staged an unexpected comeback
over the past year, owing to major finds from Italy's ENI
ENI.MI and French oil major Total TOTF.PA , lifting an
economy hobbled by massive debts, civil unrest and graft.


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