Tag: Rivers State allocation

The Republic of Congo’s national oil company (NOC) Société Nationale des Pétroles du Congo (SNPC) is seeking to raise $300 million through regional markets to finance hydrocarbon development.

Congo’s Société Nationale des Pétroles du Congo (SNPC) Explores Regional Market Bond for Hydrocarbon Development

In December 2024, SNPC launched a public bond offering titled "SNPC 6.5% Net 2024-2029"  as part of an innovative financing strategy. The proceeds will support drilling projects in the Nanga, Kouakouala and Le Mayombe oil fields. By tapping into subregional resources, SNPC aims to boost production, increase tax revenues and create employment opportunities within the Republic of Congo.​

Speaking at the Congo Energy & Investment Forum, SNPC’s Director of Finance and Accounting, Vianney Ebenga, underscored the challenges of securing international funding for fossil energy projects, noting that "the paradigm of financial institutions at an international level has shifted to clean energy,” making it increasingly difficult to raise funds for hydrocarbon development.

To navigate this shift, Aymor Ebiou, Advisor to the Director General in charge of Finance and Mandate at SNPC, highlighted the NOC’s response: "Funding at the international level is scarce; therefore, we have to innovate. SNPC is raising funds through the subregion so that we can develop our permits together."​

Supporting this approach, Fernand Gaboumba Moukengue, Director General of LCB Capital, the lead arranger for the bond issue, praised SNPC's strategy and emphasized the strength of the domestic market: "We are considering quickly programming the second tranche of the domestic loan. You can safely raise funds through the domestic market. Today, we are more than 20 stock exchange companies to support companies seeking financing."​