The French multinational has obtained, for the next twenty years, the co-management of the Djeno oil terminal, the future of which was at the center of several options, in particular a possibility of nationalization of activities under the auspices of the Société nationale des pétroles du Congo (SNPC). .
We know a little more after the meeting on November 3, 2020 in Oyo between the Congolese head of state Dénis Sassou Nguesso and the Chairman and CEO of the Total Group, Patrick Pouyanné. It emerged from this interview that Congo and Total have agreed to a new contract which now admits other companies to operate the said oil site as well as the surrounding oil fields.
“We have agreed to renew the concession of the Djeno Terminal, which is Total’s historic anchor in Congo, for another 20 years. Total’s story of this step will continue in good faith with the authorities. A new era is about to open. The important thing for us is that the terminal is operated under safe conditions and that it is always available to all operators in the Republic, “said Patrick Pouyanné.
In some Congolese business circles, there was increasing talk of the nationalization of the Djeno oil terminal, which should return 100% to the Congolese state from November 18, 2020, the date which corresponds to the expiration of the contract with Total. Under the terms of the agreement, the terminal will be shared by a consortium made up of Total and other oil companies including Perenco and Eni.
The Djeno terminal processes more than 95% of Congolese crude oil production, or around 220,000 barrels per day. Pending the implementation of the new agreement, the characteristics of which were not disclosed, Total E&P Congo held 63% of the shares and ENI Congo 37% on this site. Despite the fall in the price of oil on the international market, this raw material represents more than 70% of the country’s income.
