Congo expects gas production to increase by 50 percent.

Congo expects an increase in gas production in the country by 50% in the next 3-5 years, and also expects an increase in oil production,  Minister of Hydrocarbons Bruno Jean-Richard Itois said.
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“Over three years, about 6-7 new discoveries of oil and gas have been made in the Congo, although small, but significant for us. We think that we will have a 50% increase in gas production in the next 3-5 years. Production oil and gas production will definitely not decline, it will grow,” he said.

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The minister noted that current oil prices, which are assessed as low, have a direct impact on budget revenues, but Congo expects to compensate for this with a higher level of production.
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“We expect that next year and especially in two years we will have a better situation with oil and gas revenues even with low prices. Still, I don’t think that by the end of the year the situation for our budget will be dramatic,” he added.