Africa: Congo

AFRICA

Congo

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In April 2001, IMF officials rebuked Congo’s request for aid, citing the need for increased transparency in the oil sector and requesting an audit. The country has until October 2001 to appease the fund, if it wants inclusion in IMF’s program for "Highly Indebted Poor Countries."

TotalFinaElf will decide this fall whether to proceed with the $700-million Moho / Bilondo development, Congo’s first deepwater fields.

Eni began producing from Foukanda field in July 2001. Reserves total 40 million boe, and production should eventually peak at 12,000 bopd.

Maurel & Prom re-appraised an "old" find, and Kouakouala 1 began producing in May 2000. Two subsequent appraisals, Kouakouala 2 and 3, have put proved-plus-probable reserves at 21.2 million bbl. Kouakouala 2 tested over 1,000 bpd of 40°API gravity oil.

Table: Significant African discoveries, July 2000 to July 2001

Maurel & Prom struck oil again on its first exploration well, M’Boundi 1, which reached 6,967-ft TD and encountered an untested, 400-ft oil column, with no oil-water contact. The new discovery is in the Kouilou license.