Lukoil, a major Russian oil company, plays a pivotal role in Russia’s strategic efforts to expand its influence in Africa through strengthened partnerships and increased investments.
Lukoil’s Interest in Congo’s Hydrocarbon Resources
Recent reports indicate Lukoil’s growing interest in Congo’s hydrocarbon resources, particularly its natural gas reserves, both onshore and offshore.
Ivan V. Romanovsky, Lukoil’s Vice President, confirmed this interest during President Denis Sassou N’Guesso’s visit to Moscow, stating, “We are working on natural gas liquefaction and exploring other opportunities for developing gas resources in Congo.”
Potential New Initiatives in Congo
During discussions with the Congolese leader, Romanovsky hinted at “new initiatives that the group could undertake in Congo,” without disclosing specific details about the projects under consideration.
Lukoil’s Existing Presence in Congo’s Offshore Sector
Since 2019, Lukoil has been actively involved in Congo’s offshore sector, holding a 25% stake in the Marine XII shallow-water license. Its partners in this venture include Eni, the operator with a 65% interest, and the Société Nationale des Pétroles du Congo (SNPC), which holds a 10% stake.
Strengthening Russia’s Influence in Africa
If Lukoil successfully acquires additional interests in Congo, it could significantly bolster its position in the country’s energy market. This would present an opportunity for Russia to leverage this collaboration and further expand its influence across the African continent.