Cabinet adopts new hydrocarbons bill


Issue 298 - 18 Apr 2015 | 1 minute read

A cabinet meeting on 25 March approved a draft hydrocarbons bill that aims to bring Congo’s oil and gas legislation into line with the legal and tax frameworks in other member states of the African Petroleum Producers’ Association. The bill will be submitted to parliament for discussion and adoption. A government statement said the law updates the existing 1994 code, granting the state Société Nationale des Pétroles du Congo (SNPC) exclusive rights to mining titles, with the possibility of forming partnerships with local and foreign companies. A local content provision establishes a minimum 15% share for local private companies in production-sharing contracts.

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