London-based Soco International’s plans to explore oil in the Democratic Republic of Congo’s Virunga National Park are facing stiff opposition by the British government.
The government is believed to have conveyed its decision to Soco and also requested the Congolese government to respect international conventions.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
"Foreign investments in sectors such as hydrocarbons … can play a vital role in boosting development of the DRC … Such investment needs to be done responsibly and sustainably, in compliance with local law and conforming to international standards," said a statement from the British Foreign Office.
Despite the national law prohibiting extractive activities within national parks, DR Congo has accorded approval to Soco earlier this year to do aerial surveys of the Africa’s oldest national park, which is a last refuge for the region’s mountain gorillas and a UNESCO World Heritage site.
Soco’s deputy chief executive officer Roger Cagle said in a statement that the Congolese government’s invitation was the reason behind the company proceeding further on the exploration project, reported the news agency.
"Our involvement was formalised through a production sharing contract signed in 2006 and ratified by presidential decree in 2010," Cagle said.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"We currently have a contractual commitment with the DRC to continue with our exploration activities in Block V. If the DRC government decides that our involvement in Block V is no longer legal then we will, of course, stop all activities," he said.
Block V, Albertine Graben area is along the Ugandan border and is estimated to have reserves at 3.5 million barrels. It is currently in the preliminary phase of exploration, which involves scientific studies and assessing the petroleum resource potential of the region.
Oil Minister of DR Congo said last week that the government is willing to consider exploration activities to discover significant deposits within the park.
The statement by Cagle stated that the exploration works in the park have been temporarily stopped amidst clashes between government forces and rebels.
Image: The British government oppposes Soco International’s plans to explore oil in Democratic Republic of Congo’s Virunga National Park, which is famous for gorillas. Photo: Cai Tjeenk Willink.
