The Republic of the Congo has signed a landmark $23 billion hydrocarbon deal with China’s Wing Wah to develop the Banga Kayo, Holmoni and Cayo permits, in a move set to significantly increase oil output and create new opportunities for local communities.

The agreement, signed by Congo’s Minister of Hydrocarbons Bruno Jean-Richard Itoua, Minister of State Jean-Jacques Bouya, and Wing Wah President General Xiao Lianping, forms part of the country’s long-term economic strategy. The project targets raising national oil production to 200,000 barrels per day (bpd) by 2030, with cumulative output projected at more than 1.3 billion barrels by 2050.

Beyond oil extraction, the deal emphasizes gas monetization and energy sovereignty, with plans to expand LNG, LPG, butane and propane production. This integrated approach includes on-site power generation, water management systems, and scalable gas treatment facilities to serve both domestic and export markets.

A major highlight is the establishment of a national training center, designed to enhance local content and equip Congolese workers with skills to take up opportunities in the sector. Already, between 3,000 and 3,300 Congolese workers are employed on the projects, while nearby communities are benefiting from access to excess power and treated water.

Wing Wah’s footprint in Congo is already considerable. Its Banga Kayo onshore field, with more than 237 drilled wells, currently produces about 45,000 bpd and is projected to reach 50,000–80,000 bpd at peak.

The African Energy Chamber (AEC), which represents the continent’s energy sector, welcomed the signing, calling it a blueprint for African nations seeking to maximize resource development through strategic partnerships.

“The Republic of the Congo is aggressively developing its oil and gas resources, led by its Ministry of Hydrocarbons,” said NJ Ayuk, Executive Chairman of the AEC. “This rapid approach to resource development serves as a model for other African nations. With ambitious plans to increase production capacity, Congo is set to unlock new opportunities for sustainable economic growth.”

The deal builds on last year’s amended Production Sharing Contract (PSC) between Congo’s Ministry of Hydrocarbons and Wing Wah for the Banga Kayo block, marking a new era of public-private cooperation in advancing the country’s oil and gas industry.