The Republic of Congo’s national oil company, Société Nationale des Pétroles du Congo (SNPC), is embarking on an innovative financing strategy to raise $300 million through regional markets for hydrocarbon development. The company recently launched a public bond offering titled “SNPC 6.5% Net 2024-2029” to fund drilling projects in the Nanga, Kouakouala, and Le Mayombe oil fields, aiming to boost production, increase tax revenues, and create employment opportunities within the Republic of Congo.
At the Congo Energy & Investment Forum, SNPC’s Director of Finance and Accounting, Vianney Ebenga, highlighted the challenges of securing international funding for fossil energy projects due to the shift towards clean energy by financial institutions. In response, Aymor Ebiou, Advisor to the Director General at SNPC, emphasized the company’s innovative approach of raising funds through the subregion to develop permits collaboratively.
Fernand Gaboumba Moukengue, Director General of LCB Capital, the lead arranger for the bond issue, commended SNPC’s strategy and emphasized the strength of the domestic market for raising funds. He mentioned plans for a second tranche of the domestic loan and expressed confidence in the support from stock exchange companies in financing initiatives.
The inaugural Congo Energy & Investment Forum, scheduled for March 24-26, 2025, in Brazzaville, under the patronage of President Denis Sassou Nguesso, and supported by the Ministry of Hydrocarbons and SNPC, will bring together international investors and local stakeholders to explore energy and infrastructure opportunities at a national and regional level.
This article was distributed by APO Group on behalf of Energy Capital & Power, showcasing the commitment of SNPC to navigate the evolving landscape of energy financing and drive sustainable development in the Republic of Congo.
