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
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry’s single source for the cloud. Fusion’s advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud...
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
SYS-CON Events announced today that Cloud Academy will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud computing technologies. Ge...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, Cloud Expo and @ThingsExpo are two of the most important technology events of the year. Since its launch over eight years ago, Cloud Expo and @ThingsExpo have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, I provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading the...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...