OIL & GAS

One of Africa's most exciting oil concessions

OVERVIEW

85% OWNERSHIP OF ONE OF AFRICA’S MOST EXCITING CONCESSIONS

The Fleurette Group owns 85% of one of the most exciting new concessions emerging in Sub-Saharan Africa over the past decade.  Covering an area of 8,000km2, blocks I & II are located on Lake Albert (Albertine Graben) and hold an estimated reserve of approx. 3bn barrels in place according to recent seismic campaign conducted in (add date).  Proven reserves of 2.5 billion barrels have already been discovered on the Ugandan side of Lake Albert in a site operated by Total, CNOOC and Tullow.

  • $4M invested in
    social projects
     

    $100M invested
    in Albertine Graben

  • Ownership:
    85% Fleurette
    15% DRC government

DRC Contribution
Oil of DRCongo has contributed nearly $4 million in social projects. 

Overview
Fleurette Group owns 85% (through its through its subsidiaries Foxwhelp Ltd and Caprikat Ltd). The DRC government owns 15% of the Blocks I & II.

Investment, $100M INVESTED IN ALBERTINE GRABEN
Since 2010, the Fleurette Group through its subsidiary Oil of DRCongo, which operates the blocks, has invested approx. $100 million in exploration works and social initiatives around the Albertine Graben.

Investment History

PSC SIGNED FOR OIL EXPLORATION IN ALBERTINE GRABEN

On May 5, 2010, Fleurette Group subsidiaries (Caprikat Ltd and Foxwhelp Ltd) and the DRC government through the Ministry of Portfolio, the Ministry Hydrocarbon and the Ministry of Finance signed a Production Sharing Contract (“PSC”) for oil exploration and production in Blocks I & II of the Albertine Graben. The PSC was approved by Presidential Decree on June 18, 2010 and establishes the rights to an area covering approximately 8,000km2, including onshore and offshore acreage. 

Fleurette owns 85% of one of the most exciting new concessions emerging in Sub-Saharan Africa over the past decade.

Operational Status

RESPONSIBLE FOR OPERATIONAL, TECHNICAL, SOCIAL, AND ENVIRONMENTAL ACTIVITIES 

Oil of DRCongo, a Fleurette Group subsidiary, is responsible for the operational, technical, social, and environmental activities required in exploring and evaluating the hydrocarbon potential of the Blocks. Since exploration began in 2010, Oil of DRCongo has been managed by Giuseppe Ciccarelli, a former manager at ENI with over 30 years' experience in the hydrocarbons sector.

  • OIL OF DRCongo - Short version

DRC Contribution

Nearly $4M FOR LOCAL DEVELOPMENT, HEALTH AND EDUCATION PROJECTS

To date, Oil of DRCongo has contributed nearly $4M in social projects, over and beyond the social project expenses laid out in PSC provisions. This contribution has funded numerous local development, health and education projects. These include supporting the Kasenyi Medical Center, the secondary school for the community of Jiba for 600 students and the radio station for the Tchomia community. It also includes upgraded roads from Bunia to Kasenyi and feasibility studies for the refurbishment of the Budana Power Plant, enhancement of Bunia water supply system and new water wells in Kasenyi. In addition, in July 2015, Oil of DRCongo opened a new state of the art school in Torges, for a total amount of $250,000.