CORRECT (2/19): New Energy Minister Set To Take Over In Congo - Sources

Laurent Muzangisa is set to be replaced by Celestin Mbuyu at the helm of Congo's Energy ministry, people familiar with the matter said Friday, a move rekindling hopes that long-stalled foreign contracts could be finally ratified.

The expected appointment of Mbuyu, a member of the People's Party for Reconstruction and Democracy, the party of head-of-state Joseph Kabila, is part of a partial government reshuffle that is seeing the promotion of his presidential allies.

Mbuyu is a minister of Interior in the ongoing government, but the Energy ministry is set to play a key role in the coming months as Congo, whose capital is Kinshasa, vows to develop its oil riches after years of civil strife.

Recent investments in neighboring Uganda and the Republic of Congo, whose capital is Brazzaville, show the increased appetite from oil companies in this part of the world.

But a number of foreign companies, including Dominion Petroleum Ltd. (DPL.LN), Soco International PLC (SIA.LN) and Tullow Oil PLC (TLW.LN) are still awaiting the final ratification of licenses in which they have interests in eastern Congo. The arrival of a new minister close to Kabila should boost the chances of a swift ratification, one person said.