In January 2020, Perenco Exploration & Production Congo Ltd's (Perenco) Production sharing Contract for the Marine XXVIII (understood to include both XXVIIIA and XXVIIIB) was approved. The 280 sq km area sits atop the shelf within the Lower Congo Basin. It plays host to the 1992 Likoufou Marine 1 oil and gas discovery, the 1992 Likoufou Sud Marine 1 oil and gas discovery, the 1991 Nongo Nord Marine 1 oil and gas discovery and the 1980 Nongo Marine 1 oil discovery. Likoufou Marine 1 is estimated to hold some 30 MMbo and 5,000 MMscf gas. Likoufou Sud Marine 1 is estimated to hold some 1.2 MMbo and 1050 MMscf gas, Nongo Nord Marine 1 is estimated to hold some 6.6 MMbo and 50 MMscf gas and Nongo Marine 1 is estimated to hold less than 1 MMbo.  The effective date for the start of the of the PSC was January 2019.  Perenco operates the licence with a 75% interest, Societe Nationale des Petroles du Congo holds the remaining 25% stake.   Background information   Perencoâs bid for the block was opened on 29 March 2017. On 21 November 2018, the Council of Ministers met and agreed to award Marine XXVII to SNPC and Perenco.  (it was previously though that the split was 85% Perenco and 15% SNPC however, this was incorrect).   The licence was awarded for a period of two years and in non-renewable.
Perenco Exploration & Production Congo Ltd's (Perenco) Production sharing Contract for the Marine XXVIII (understood to include both XXVIIIA and XXVIIIB) was approved. 