Businessman Saifee Durbar eyes Lake Albert oil blocks amid questions over credentials

Indian-born Pakistani-Central African businessman Saifee Durbar has expressed interest in acquiring or exploring oil blocks 1 and 2 in the Democratic Republic of Congo (DRC), a move that has prompted caution among Congolese authorities amid questions surrounding his business background and credentials.

Saifee Durbar, a London-based businessman and former adviser to Central African Republic (CAR) President François Bozizé, is seeking an entry into the DRC’s oil industry after returning to the Central African Republic to pursue opportunities in the mining sector.

His interest in the two blocks, located in the Albertine Graben around Lake Albert, places him in a potentially significant position in one of the region’s established oil exploration areas. However, his overture has reportedly left authorities wary as they consider his background.

Durbar turns attention to DRC oil sector

Saifee Durbar, the founder and chief executive officer of Girc, Bridge Africa Counselage, and founder of philanthropic organisation Kutamani, has now set his sights on oil blocks 1 and 2 around Lake Albert, an area that has previously attracted attention from international investors and featured in disputes involving businessman Dan Gertler.

The businessman’s interest comes as he seeks to expand his involvement in the natural resources sector, moving from mining opportunities in the Central African Republic towards oil exploration in neighbouring Congo.

However, the available information does not establish whether Saifee Durbar has submitted a formal acquisition proposal, secured a licence or entered into an agreement with the Congolese government.

Former Bozizé adviser returns to mining

Before turning his attention to the DRC, Saifee Durbar served as an adviser and deputy foreign minister under former CAR President François Bozizé.

He has since returned to the Central African Republic to pursue mining-related opportunities, spending the past year searching for investors interested in iron ore projects.

His renewed involvement in the country’s mining sector provides the immediate background to his interest in expanding into oil, although details of the projects, prospective investors and financing arrangements have not been disclosed in the information available.

Congolese authorities remain cautious

Saifee Durbar’s interest in the Lake Albert blocks has drawn a cautious response from Congolese authorities, with his background and credentials emerging as concerns surrounding the proposed move.

The reservations introduce uncertainty over whether his ambitions will translate into a concrete investment or acquisition opportunity in the country’s petroleum industry.

For now, his interest in blocks 1 and 2 remains an indication of his ambitions in the DRC’s oil sector rather than evidence of a completed transaction or secured exploration rights.