Congo to construct Central Basin – Atlantic pipeline as early as 2015
Tue, 30 March 2010
The Democratic Republic of Congo intends to begin work on a proposed 1,500 km oil pipeline, which will extend from its central forests to the Atlantic coast, as early as 2015, according to the Oil Ministry.
The pipeline would carry crude oil from potential oil discoveries in Congo’s central basin, to the western port of Matadi, located on the Congo River.
Oil Ministry representative Joseph Pili Pili said the anticipated investment required for the project is $US3.5 billion. He said Congo would seek financing from oil companies, the World Bank and the African Development Bank.
Surveys carried out by Brazil’s HRT Petroleum Corporation have found three prospective sites in the region with potential oil reserves of 3 Bbbl from which oil for the pipeline project could be sourced.
Exploration in the central basin has previously been limited by its remoteness, conflict in the region and the global financial crisis.
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