Congo Issues Contracts for Lake Albert Oil Blocks to South African Firms

Democratic Republic of Congo issued contracts for two oil blocks in the Lake Albert region to two South African companies.

Caprikat Ltd. and Foxwhelp Ltd., both owned by Aurora Empowerment Systems Ltd. Chairman Khulubuse Zuma, the nephew of South African President Jacob Zuma, signed a contract with the central African nation’s government for Blocks I and II in Lake Albert, Caprikat said in an e-mailed statement today.

The blocks are located in the Albert Basin in the Western Rift Valley of East Africa on the border with Uganda.

To contact the reporter on this story: Michael J. Kavanagh in Kinshasa at mkavanagh9@bloomberg.net

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