Congo Wants to Sell Gertler’s Oil Blocks on Ugandan Border

Oil production on Lake Albert.
Oil production on Lake Albert.

The Democratic Republic of Congo is forming a plan to take back two oil blocks from sanctioned Israeli billionaire Dan Gertler and sell them to another company.

The Congolese government has talked to Tullow Oil Plc about purchasing a stake in the Lake Albert licenses along the country’s border with Uganda, said four people with knowledge of the discussions. Total SA and Eni SpA had also showed some interest, two of the people said.

Continue reading “Congo Wants to Sell Gertler’s Oil Blocks on Ugandan Border”

Billionaire Gertler Seeks Partner for Potential Congo Oil Find

Dan Gertler

Billionaire Dan Gertler is looking for partners to develop oil blocks in the Democratic Republic of Congo after seismic studies revealed “a lot” of oil, the director of Gertler’s Oil of DR Congo sprl said.

Exploration by the company shows a geological structure beneath Congo’s Lake Albert that may contain as much as 2 billion barrels of liquid, Oil of DR Congo director Giovanni Pedaci told reporters yesterday in Kinshasa, the capital. The company needs to drill to test how much oil the structure contains, he said.

“To develop a reservoir so big is capital intensive -– two, three, four billion dollars,” Pedaci said at the iPad oil conference. “My shareholders are looking for some people to share the risk.” Continue reading “Billionaire Gertler Seeks Partner for Potential Congo Oil Find”

Survey Shows Lake Tanganyika’s Oil ‘Potential’ in Tanzania

 

 

KINSHASA — An Australian company exploring for oil on the Tanzanian side of Lake Tanganyika says it may target potential areas for drilling in about six months’ time.  The company, Beach Energy, says the lake has the potential for large discoveries and there are clear signs of a working petroleum system on the Congolese side.
Continue reading “Survey Shows Lake Tanganyika’s Oil ‘Potential’ in Tanzania”

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