JUser: :_load: Unable to load user with ID: 770

Cameroon: Bowleven to drill two wells on the Etindé permit "as soon as possible in 2016"

AIM-listed British company Bowleven plans to drill "two appraisal wells highlighting the significant upside potential identified on the intra Isongo reservoir" on its Etindé permit, offshore Cameroon, a report on the company's year ended on 30 June 2015 revealed. According to Bowleven CEO, Kevin Hart, these wells will be completed "as soon as possible in 2016".

The British oil and gas firm is highly optimistic about this project considering that it already has a $40 million (22 billion FCFA) available budget for the drilling and testing works.

Despite the hardship most exploration and production firms currently go through due the global drop in prices of crude oil, Bowleven says "it took the time to examine (its) current base cost to ensure that it fits its current planning as well as (its) strategic goals".


Bowleven held 75% of the Etinde permit, a set of three offshore blocks covering 2,316 km2 in Cameroon. However, the British group later inked a stake-sale agreement with Russian Lukoil and New-Age, transferring them 50% of its stakes. This operation was approved by a Presidential decree signed on February 6, 2015.

(Business In Cameroon)

Share your views on this article

Email This email address is being protected from spambots. You need JavaScript enabled to view it.

Cameroon Concord  is an online publication covering and reporting on  local and world news, sports, entertainment, politics, business, and religious news. Serving Cameroonians .



Get the latest news and information delivered directly to your inbox by subscribing to our news alerts.



Right Click

No right click

We use cookies to improve our website. By continuing to use this website, you are giving consent to cookies being used. More details…