The Lower Congo Basin is one of a series of prolific oil and gas producing basins along Africa’s Atlantic coast. Significant prospective resource exists, particularly within the deepwater and ultra-deepwater Tertiary turbidite sandstone formations. Smaller volumes remain in the Cretaceous carbonate play within the shelf environment, where explorers can benefit from lower costs and shorter lead times. Explorers have the opportunity to create value in the basin, although high costs and PSC terms limit returns. Exploration activity has stalled in recent years, and we expect well numbers to pick up following recent drilling success and new upcoming licensing rounds.