Unite Oil & Gas sees opportunities in Congo

Unite Oil & Gas, under the leadership of President and CEO Yachtze Luchin, is optimistic about the vast investment opportunities in Congo's energy sector. In an exclusive interview with CNBC Africa at the inaugural Congo Energy and Investment Forum, Luchin outlined the company's strategic approach and commitment to supporting the country's oil and gas expansion for long-term sustainability and profitability. Luchin highlighted the three key pillars of Unite Oil & Gas' operations, which include a consulting division providing expert geoscientists and engineers, a services division focused on engineering, procurement, and construction, and a development and production division that directly participates in asset acquisition and development. The company's primary focus is on onshore and shallow water projects. One of the critical points emphasized by Luchin is the favorable investment climate in Congo, citing the country's abundant hydrocarbon resources and the presence of skilled professionals. He dismissed the perception of high risk in the region, noting that Congo offers stability and intellectual capacity, making it an ideal investment destination. Unite Oil & Gas has established a strong presence in the market through partnerships with local entities, such as the technical collaboration with SMPC and the formation of Bemoco Oil and Gas. These collaborations have enabled the company to enhance its technical capabilities and play a significant role in developing key oil and gas fields. Looking ahead, Luchin reiterated the company's commitment to supporting Congo's energy goals, including the implementation of a gas master plan to reduce flaring and increase gas utilization for electricity generation and monetization. He expressed confidence in Congo's ambitious target of reaching 500,000 barrels per day by 2027 and emphasized the importance of attracting investment and partnerships to achieve these milestones. In conclusion, Luchin emphasized the need for collaboration and investment in Congo's energy sector, highlighting the country's potential for growth and development. With a clear vision and strategic approach, Unite Oil & Gas is poised to capitalize on the abundant opportunities in the region and contribute to the long-term energy sustainability of Congo.