Congo-Brazzaville and Wing Wah Seal Deal for $23B Hydrocarbon Project
In August 2025, the Minister of Hydrocarbons of the Republic of Congo, Bruno Itoua, and the President of Wing Wah Group, XIAO Lianping, signed an hydrocarbon development accord. The deal involves three blocks at Banga Kayo, Holmoni, and Cayo. The amount of #FDI is estimated at USD 23 billion and the project aims to produce 200,000 barrels per day (bpd) by 2030.
From a national perspective, the oil production in Congo is set to cross the one million bpd threshold within the coming years. In that regard, Congo-Brazzaville is also exploring similar partnerships with TotalEnergies and Eni, to name a few top players.
The African Energy Chamber expressed its unreserved support for this deal in that it is not purely export-oriented, but also involves providing natural gas for domestic use in order to bring tangible benefits to local communities. Another aspect of the deal that is noteworthy is the setting up of an ‘Oil & Gas Academy’ to handle capacity building for Congolese citizens so that they can secure gainful employment in this emerging and promising sector. It is estimated that the Wing Wah project will employ at least 3,000 local workers when in full swing.
“The Republic of the Congo is aggressively developing its oil and gas resources, led by its Ministry of Hydrocarbons. The country’s rapid approach to resource development serves as a model for other African nations rich in natural resources. With ambitious plans to increase production capacity, Congo is set to unlock new opportunities for sustainable economic growth through strategic oil and gas investments.”
African Energy Chamber Chair NJ Ayuk
The project is vertically integrated and includes a liquefaction train that can output LNG and LPG to meet both domestic and overseas demands. An onsite power generation plant and a water treatment are also part of the project which are designed to also benefit the surrounding communities.
Wing Wah started its operations in Congo with the Banga Kayo field which currently produces 45,000 bpd on average. In April 2024, Wing Wah and the Ministry of Hydrocarbons inked an amended Production Sharing Contract (PSC).
The amended PSC is a model of Public-Private Partnership (#PPP) and entails a three-phase integrated development plan with clear budgets and timelines. The agreement also makes sure that Congo shall extract more benefits from its rich untapped oil and gas resources. The signature of the mega-deal is the outcome of months-long negotiations to allow for the convergence of the interests of both parties.