The talks have resulted in the finalization of the Production Sharing Contract for the Bolongo Exploration offshore block. The oil company was selected on March 30, 2026, following an international call for expressions of interest for the concession of 9 free blocks in Cameroon's marine and terrestrial domain.

The formal signing of the engagement contract, scheduled to take place in the coming days under the presidency of the sector's authorities, marks the beginning of a 3-year renewable exploration period. The minimum research obligations imposed on the operator include the processing of 3D seismic data on at least 200 square kilometers and the drilling of a first exploration well, representing an initial investment estimated at over $25 million (15 billion FCFA). The agreement reserves a minimum 25% state participation for the SNH in subsequent exploitation phases, ensuring a distribution of oil revenues in accordance with the 2019 Petroleum Code.

The successful outcome of the allocation process comes at a time of renewal of the country's hydrocarbon reserves, marked by a natural decline in production from historical fields estimated at around 60,000 barrels per day in 2025. The development of the Bolongo block, located near already active extraction fields in the Rio del Rey and Douala-Kribi offshore basin, aims to maintain the level of crude oil production and secure budget revenues from black gold sales for the public treasury.


BCN

Tags: pétrole cameroun snh octavia energy bloc bolongo exploration énergie hydrocarbures industrie pétrolière