Welcome!

News Feed Item

Oil of DRCongo Announces Major Road Investment and Update on Exploration Activities

KINSHASA, Democratic Republic of Congo, February 19, 2014 /PRNewswire/ --

Fleurette Group announces that its subsidiary Oil of DRCongo, has signed a formal agreement with the Governor of the Oriental Province in the North East Democratic Republic of Congo (DRC), Mr Jean Bamanisa, to fund the refurbishment of the most critical sections of the Bunia-Kasenyi Road (14km over a total of 40km ). Oil of DRCongo will invest USD $750,000 in the road with the project expected to complete within the next 6-8 months.

The Bunia-Kasenyi Road is a vital artery linking the towns of Bunia and Kasenyi. The road facilitates the supply of goods to Bunia and the on-going trade between these towns, creating jobs, encouraging investment and aiding the development of a region which has been heavily impacted by conflict over so many years. Oil of DRCongo's investment will enable a complete refurbishment of the 14km stretch which has been worst affected by neglect and a lack of investment.

Significant investment in the local community

Oil of DRCongo is proud that it, in its capacity as operator of Bocks I and II on the Albertine Graben, it has far exceeded the licencee's obligations to the DRC with regards to providing local community support. In total Oil of DRCongo has invested almost $4 million in local projects including assistance to the medical/maternity centre in Kasenyi, staffed by two full time doctors and eight nurses. It has also completed feasibility studies for: the refurbishment of the Budana Power Plant with the aim of doubling capacity; the enhancement of waters supply system to Bunia through a new pipeline and new storage/treatment facilities; and the drilling of new water wells in Kasenyi.

Oil of DRCongo has nearly completed the construction in Jiba (North-West Tchomia-Block I area) of a school able to accommodate 200 students. The school is expected to be inaugurated in the third week of March.

Oil of Congo also announces it has completed the construction of the new TV & radio station in Tchomia in the Ituri District, in the Eastern Province. "Community Radio-Television UMOJA" (RTCU) will be a vital communications tool for the people of Tchomia.

Operational update

Oil of DRCongo welcomes the strong endorsement received from the Minister of Hydrocarbons in the DRC, who has noted the significant progress Oil of DRCongo has made at Blocks I and II on the Albertine Graben, to ensure the continued development of these important oilfields. Out of the five petroleum blocks for which the Government of the DRC has signed PSCs, only Blocks I and II have undergone exploration, carried out by Oil of DRCongo. The other companies holding rights on the Albertine Graben have declared "force majeure" due to issues of security and failed to advance exploration activities.

The seismic campaign (1st and 2nd phases) has covered approximately 700km offshore and 150km onshore. Oil of DRCongo has invested in excess of $70 million in the exploration works of the Blocks I & II so far including above $20 million on the seismic investigations.  The seismic data acquisition itself was carried out by TESLA (UK). Oil of DRCongo employed 250 people based in Kasenyi, out of which 204 were Democratic Republic of the Congo (DRC) locals, for the seismic works.

Next Steps

Oil of DRCongo has now completed the interpretation of the seismic data. Oil of DRCongo's next priority is the establishment of four wells. Oil of DRCongo is carrying out a Feasibility Study aimed at evaluating the entire drilling exercise and in particular, to identify the exact locations of the four wells established by the PSC. The preparation phase of the drilling includes the transport to the sites of the drilling equipment, the installation of a base camp for staff, new supply roads, a new dock on Lake Albert and a landing strip for moving personnel and equipment. The Tender Documents for the drilling works expect to be launched by the end of March 2014. At the same time Oil of DRCongo will identify the new seismic grid necessary to cover the entire available acreage, with particular reference to Block I.

Giuseppe Ciccarelli, CEO of Oil of DRCongo commented:

"We are delighted to be supporting the rehabilitation of this important transport link as part of Oil of DRCongo's on-going commitment to the communities in North East DRC. This project has the potential to provide significant tax revenues and multiple other benefits to the people of the DRC and Fleurette, through its subsidiary Oil of DRCongo, is committed to making the investment required to move the project forward. We are excited about the future prospects for Blocks I and II. Oil of DRCongo is generating jobs, fuelling development and prosperity and contributing to social progress. Fleurette is proud to be leading the effort help the DRC build a competitive, sustainable oil industry."

About Fleurette Group

The Fleurette Group of Companies ("Fleurette") is a Dutch an entrepreneurial business with significant investment in diverse sectors, including natural resources, infrastructure, agriculture and technology. Fleurette has substantial investments and operations in the Democratic Republic of Congo (DRC).  The parent company of the group, Fleurette Properties Limited, a Dutch resident company, is owned by Line Trust Corporation Limited strictly and solely as trustees of the Ashdale Settlement, a trust established in 2006 for the benefit of the family of Dan Gertler. Mr Gertler is a citizen and resident of Israel and the DRC (and honorary counsel to the DRC) and is committed to developing the country's natural resources and infrastructure, while investing in the Congolese people and their communities.

Fleurette has a proven track record of successful co-operation with diverse parties, including the DRC State-owned mining company Gécamines, and to date has brought more than USD $7 billion of investment into the DRC, on top of its USD $2 billion in private investment. As a result, Fleurette's subsidiaries and partnerships support around 30,000 jobs in the DRC and are amongst the DRC's leading taxpayers, contributing significant revenues to the State.

Fleurette is also a major contributor to social development in the DRC through the Gertler Family Foundation (GFF) and through direct investment in social infrastructure. The GFF is the largest charitable organization in the DRC, funding more than 50 programs and projects across the DRC, which help tens of thousands of Congolese every year.  These include rebuilding key hospitals, notably the Kisangini "Hospital du Cinquantenaire"; supporting the Operation Smile campaign in Lubumbashi and Kinshasa; rebuilding Blaise Pascal School in Lubumbashi; and supporting the Lubumbashi Zoo.

Food security is a critical issue for the DRC and in Kinshasa, Fleurette and the GFF are developing 1,482 acres of land into the Kitoko Food Farm in partnership with local and international organizations. The farm is expected to employ 400 people and is expected to produce more than 4,500 tons of carrots, tomatoes, onions, potatoes and other vegetables in 2014.

For more information on the GFF and its operations please see http://www.gertlerfamilyfoundation.org

About Oil of DRCongo

On 5th May 2010, Fleurette, through Caprikat and Foxwhelp Ltd, two entities created for the Project, entered into a PSC with the DRC Government relating to the oil exploration and production of the Blocks I&II on the Albertine Graben. Presidential Approval was granted on June, 18th, 2010. The Blocks cover an area of over 7000 km2, including onshore and offshore acreage. Caprikat and Foxwhelp Ltd, through Caprikat and Foxwhelp SARL (DRC), hold a 85% interest in the Blocks, while the remaining 15% is held by the DRC Government. Oil of DRCongo was established by Caprikat and Foxwhelp Ltd in the last Quarter of 2010 as Operator. It is responsible, on behalf of the interest holders, for the management and performance of all the activities envisaged by the PSC for the Blocks' development.

A video of the work being done by Oil of DRCongo can be found here: http://www.youtube.com/channel/UCtp5vMqUpnZWxLlCyDj8l5Q

Press enquiries
UK Media enquiries
Maitland
Peter Ogden        
[email protected]       
+44(0)207-379-5151

Andy Donald        
[email protected]

SOURCE Fleurette Group

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts? As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
With over 720 million Internet users and 40–50% CAGR, the Chinese Cloud Computing market has been booming. When talking about cloud computing, what are the Chinese users of cloud thinking about? What is the most powerful force that can push them to make the buying decision? How to tap into them? In his session at 18th Cloud Expo, Yu Hao, CEO and co-founder of SpeedyCloud, answered these questions and discussed the results of SpeedyCloud’s survey.
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
Actian Corporation has announced the latest version of the Actian Vector in Hadoop (VectorH) database, generally available at the end of July. VectorH is based on the same query engine that powers Actian Vector, which recently doubled the TPC-H benchmark record for non-clustered systems at the 3000GB scale factor (see tpc.org/3323). The ability to easily ingest information from different data sources and rapidly develop queries to make better business decisions is becoming increasingly importan...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...