At a meeting held on January 15, 2025 with the Parliamentary Commission on Governance and the Ministry of the Environment, Francis Kamanzi, Managing Director of the RMB, revealed that preliminary research has identified 13 oil wells in Lake Kivu. These initial analyses, carried out at depths of up to 480 metres, have confirmed the presence of traces of oil. “The unique depth of Lake Kivu and its geological link to other resource-rich lakes, such as Lake Albert in Uganda, give us confidence that our reserves could be even greater,” said Kamanzi.
A regional opportunity
Located in the Rift Valley, Lake Kivu shares similar geological features with neighbouring basins that have already revealed exploitable deposits. This discovery puts Rwanda on the map of potential energy leaders in East Africa.”The lake’s geological advantages, combined with our experience with methane gas, reinforce our position as a strategic player in the energy industry,” added the CEO.
For entrepreneurs and investors, these discoveries can be an exceptional opportunity to partner an innovative project in a region with largely untapped resources.
Exploration processes and costs
The next stages of exploration are crucial to assessing the commercial viability of the reserves. Drilling to even greater depths, collecting additional samples and accurately mapping the lake bed will require advanced technologies. Costs for this phase are estimated at around 6.5 to 8 million dollars (8 and 10 billion Rwandan francs), with individual well drilling costs exceeding 15 million dollars. This prospect invites investors to seize the opportunity to finance the cutting-edge technologies needed to fully exploit Lake Kivu’s potential.
Developing Lake Kivu’s oil reserves could transform Rwanda’s energy sector and stimulate economic growth. Once extracted, the resources could take a variety of forms: solid asphalt, diesel, petrol or gas.
Rwanda, which is already involved in methane gas exploitation, has the necessary expertise to bring these projects to fruition. Optimism is also fuelled by the country’s investment-friendly legislative and political framework, offering guarantees to entrepreneurs.
An invitation to investors
Rwandan parliamentarians welcomed the announcement with enthusiasm. At the same time, they stressed the importance of the investments needed to make this discovery a commercial success. The opportunities for private players are vast: from financing feasibility studies to deploying drilling and processing infrastructure. Rwanda is committed to growth and energy self-sufficiency, in line with sustainable development objectives. Foreign and local investors are called upon to take part in this energy revolution, which could not only strengthen the Rwandan economy, but also reduce the region’s dependence on imported fuels.
The discovery of oil wells in Lake Kivu marks a milestone for Rwanda. More than just an extraction project, this is an opportunity to invest in innovative, environmentally-friendly infrastructure.
