DRC and Angola Advance Shared Offshore Oil Project

The Democratic Republic of the Congo and Angola have completed another major legal step toward jointly developing petroleum resources in a shared offshore zone.

Congolese Hydrocarbons Minister Acacia Bandubola Mbongo and Angola's Minister of Mineral Resources, Petroleum and Gas, Diamantino Pedro Azevedo, signed an addendum to the production-sharing contract for Block 14/23 in Luanda on July 22, 2026.

They also signed a joint declaration covering the implementation of the governance and management agreement for the Maritime Zone of Common Interest, known by its French and Portuguese abbreviation, ZIC.

The agreements complete administrative, financial and legal adjustments that officials say are necessary to move the project into its operational phase.

That is an important advance, but it does not mean offshore oil production has begun.

Neither government disclosed a first-production date, new investment value, expected output, cargo schedule or forecast of how much public revenue the project could generate.

What exactly did the DRC and Angola sign?

The addendum updates the production-sharing contract governing Block 14/23, the petroleum area linked to the joint maritime zone.

According to Angola's Ministry of Mineral Resources, Petroleum and Gas, experts from both countries met in Luanda on July 21 and 22 to review the legal instruments, governance arrangements and financial mechanisms required for shared petroleum operations.

The two governments also acknowledged that the ratification procedures for the governance agreement and its addendum had been completed.

The Congolese Press Agency described the signature as the conclusion of the latest administrative, financial and legal changes needed to advance the project.

In practical terms, the documents are intended to establish who participates in the joint institutions, how decisions will be supervised and how money connected to the project will be monitored.

The DRC and Angola exchanged lists of representatives for the commissions and committees responsible for management, operations and oversight.

The DRC has designated members for the ZIC's interministerial and steering structures, as well as the body responsible for monitoring and managing the joint account.

What happens next?

One of the clearest next steps concerns the joint financial account.

The two countries agreed that the Joint Account Supervisory Commission should hold its first meeting within 30 days.

That commission is expected to:

• Complete the procedures for opening the joint account

• Approve the bank where the account will be held

• Establish rules for managing deposited funds

• Begin carrying out its financial-oversight responsibilities

These measures matter because a cross-border petroleum project requires both countries to agree on how project money is received, recorded, controlled and distributed.

However, creating an account-management structure is not the same as receiving production revenue. Commercial oil must first be developed and produced before the project can generate income from sales.

Officials also instructed technical teams and the project operator to implement the commitments contained in the new documents.

Where is the shared petroleum zone?

The Maritime Zone of Common Interest is located off the Atlantic coast, between the southern part of Angola's Block 14 and the northern sections of Blocks 1, 15 and 31.

The arrangement allows the two neighbours to cooperate on petroleum resources in a maritime area where their interests meet instead of allowing the zone to remain blocked by competing claims or unclear jurisdiction.

The current framework grew from a process that began more than two decades ago.

Angolan officials trace the cooperation back to 2003, while a formal cooperation protocol was signed in 2007. Angola and the DRC signed a new governance instrument in Kinshasa on July 13, 2023, followed by further legal updates.

In December 2023, the parties signed the production-sharing contract for Block 14/23.

Angola approved an agreement dealing with management, income-sharing and tax obligations in 2025. Additional governance instruments were approved in January 2026 before the latest addendum was signed in July.

The long timeline shows why the new signature matters: it is intended to move the partnership away from years of negotiation and toward implementation.

Who is expected to operate the project?

Chevron's Angolan subsidiary, Cabinda Gulf Oil Company, or CABGOC, was selected as operator when the production-sharing contract was signed in 2023.

The contractor group announced at the time comprised:

• CABGOC: 31%

• Azule Energy Angola: 20%

• Etu Energias Angola Block 14: 20%

• Galp: 9%

• The DRC's state oil company SONAHYDROC: 10%

• Angola's SONANGOL P&P: 10%

These percentages, published by Angola's National Oil, Gas and Biofuels Agency, describe the participating interests in the contractor group.

They should not automatically be interpreted as the final division of government revenue between the DRC and Angola. Taxes, cost recovery, profit petroleum, state participation and other contract terms can affect what each party ultimately receives.

The complete financial model and current country-level revenue-sharing formula were not detailed in the July announcements.

Why could this be important for the DRC?

The DRC is already one of the world's most important mineral-producing countries, but its oil industry remains relatively small compared with its mining sector and with neighbouring Angola's petroleum industry.

A successful shared offshore project could give the DRC access to new petroleum income, offshore operating experience and specialist skills.

It could also expose Congolese engineers, technicians, regulators and state companies to a mature oil-producing industry with established offshore infrastructure.

SONAHYDROC's participation gives the Congolese state oil company a direct place in the contractor group. The project's wider national value, however, will depend on more than ownership on paper.

Congolese people will want to know whether the project creates:

• Skilled jobs and training for Congolese workers

• Contracts for Congolese companies

• Reliable tax and petroleum revenue

• Technology transfer to national institutions

• Investment in coastal communities and public services

• Strong protection against spills and marine damage

Without these benefits, a production agreement can increase headline revenue without significantly changing daily life.

What must be transparent?

Both governments have presented transparency and equitable benefit-sharing as guiding principles for the joint zone.

Those commitments will need to be supported by published information.

Before commercial production begins, authorities should disclose:

• The updated production-sharing contract or a detailed public summary

• The respective rights and obligations of the two states

• The rules governing the joint account

• How project income will be calculated and divided

• The operator's development and investment programme

• Procurement and local-content requirements

• Environmental and social-impact studies

• Emergency plans for spills or offshore accidents

• Independent audit and public-reporting arrangements

The joint account deserves particular attention. Selecting a recognised financial institution, defining authorised transactions and publishing audited statements would help citizens distinguish money actually received from future revenue projections.

The DRC should also explain how SONAHYDROC's 10% participating interest will be financed and how any dividends, costs or liabilities will be reported.

What about the environment?

Offshore petroleum can generate revenue, but it also carries environmental risks.

An oil spill could damage fisheries, coastal ecosystems and the livelihoods of communities that depend on the Atlantic coast. Offshore platforms and support vessels also require strict safety, waste-management and emergency-response systems.

The governments and operator should therefore make environmental assessments, monitoring procedures and emergency plans accessible before major field activity begins.

Communities should know who is responsible for responding to an incident, how damage would be measured and how affected families or businesses would be compensated.

Environmental safeguards are not separate from the project's economic value. Weak protection can transfer the cost of petroleum development to citizens while companies and governments receive the income.

Has oil production started?

No production start was announced with the July 22 addendum.

The signature advances the legal, governance and financial arrangements for the project. It opens the way for the parties to accelerate implementation, but further technical and commercial steps are still required.

The latest official releases do not provide:

• A date for first oil

• Confirmed recoverable reserves

• Expected daily production

• A final development budget

• Projected government revenue

• A construction or drilling timetable

Until those details are published, the most accurate description is that the DRC and Angola have completed a major legal step toward operationalising their shared offshore petroleum project.

The agreement creates an opportunity, not yet an income stream.

Its success will ultimately be measured by whether petroleum is produced safely, revenues are disclosed, Congolese workers and businesses participate, and the benefits reach the public.