Angola, DRC to Become Joint Holders of Offshore Block 14

Angola. Oil

According to Minister Ntubuanga, and under the terms of the deal, Angola’s National Oil Company (NOC) Sonangol will write off a debt of $200 million that the DRC’s NOC Sonahydroc owes to the Angolan parastatal.

Poised to abate a 50-year dispute over the offshore oil blocks between the two African nations, the production sharing agreement comes as part of an array of collaborative agreements between Angola and the DRC.

In an effort to improve mobility, officials from the DRC and Angola will no longer require visas to travel between the two countries. The two nations have begun the process of finalizing cooperation agreements in the fields of tourism, women empowerment, forestry, wildlife, small- and medium-sized enterprises, construction, urban planning, and housing.

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Onur Yilmaz

Onur Yilmaz

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