Thursday, October 21, 2021

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

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    Joseph Afam
    Joseph Afam (Local Contents and Partnership Editor) (070 3949 0464) Joseph Afam is a energy and finance journalist, who has years of experience in journalism, he started his journalism career in Nigeria’s top financial newspaper in Lagos. He’s a graduate of Economics and Finance from University of Ebonyi State, Nigeria He has won series of awards and regconitions Contact him for any editorial deals and advertorial issues on #,, Cell: 070 3949 0464

    BRAZZAVILLE, June 11 – 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 and French oil major Total, lifting an economy hobbled by massive debts, civil unrest and graft.

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