Oil company Perenco plans to invest more than $2 billion in the Republic of Congo over the next three to five years, including a floating production project and expanded drilling campaign.
The company aims to raise crude production in Congo to more than 100,000 barrels per day, Perenco President Francois Perraudeau said on Monday.
The programme includes the drilling of 100 wells over five years, focused mainly on production but also including exploration, Perraudeau said.
Perenco plans to convert a crude carrier with capacity to store 2 million barrels into a floating production, storage and offloading vessel at a cost of about $500 million, Perraudeau added.