Oil

On May 5, 2010, the Democratic Republic of the Congo, Caprikat Ltd and Foxwhelp Ltd — subsidiaries of the Fleurette Group — signed a Production Sharing Contract (“PSC”) relevant to oil exploration and production in Blocks I and 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 8,000 square kilometres, including onshore and offshore acreage, in the DRC.

Albertine Graben is one of the African Great Lakes and is located on the border between the DRC and Uganda.

Oil reserves amount to an estimated 1.3 billion barrels have been discovered on the Uganda side of Albertine Graben that amount to an estimated 1.4 billion barrels. Research and exploratory findings suggest that a comparable amount of untapped oil resides within Blocks I & II.

Our subsidiary Oil of DRCongo is responsible for the operational, technical, social, and environmental activities required to explore and evaluate the hydrocarbon potential of the Blocks, which it has been carrying out since 2010.

The finding and production
of oil is going to change the
economic picture, economic
equation of the country Dr. Guiseppe Ciccarelli
CEO, Oil of DRCongo

Oil of DRCongo

Business Benefitting the Community

To date, Oil of DRCongo has contributed more than $2.5 million to social projects, which is in excess of the social project expenses set out in  the provisions of the PSC. These contributions have funded:

  • Support to the Police in Bunia providing five four-wheel drive vehicles and twenty motorbikes.
  • Opening and management of a medical center in Kasenyi with a treatment capacity of approximately 2,000 people per month. The medical center is under continuous expansion; recently, a maternity ward with forty beds was added. The center employs two doctors and four nurses on a full-time basis.
  • Completed a feasibility study for the drilling of new water wells in Kasenyi and refurbishment of the existing ones.
  • A radio station donated to the community of Tchomia.
  • Refurbishment of 13 Km section of the road from Bunia to Kasenyi.
  • Completed a feasibility study for the enhancement of the water supply system to Bunia (from 100 cm to 200 cm) through a new pipeline and new storage/treatment facilities.
  • Completed a feasibility study for the refurbishment of the Budana Power Plant, with the aim to double its power delivery capacity.
  • A two hundred child school for the community of Jiba, wich was inaugurated in March 2014.