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

Cameroon oil output up 15 % in 2014


Oil production in Cameroon rose 15 percent year-on-year to 22.69 million barrels by the end of October, according to the state oil firm, but output may double within the next two years as new fields come on line. Cameroon became a modest oil producer in 1977, with output hitting a record of 185,000 barrels per day (bpd) in 1986 before dropping steadily to 63,000 bpd in 2011 due to maturing fields.

However, new finds and new techniques to tap more oil from matured wells have seen volumes rising again. "This increase results particularly from the Dissoni field production, as well as the commissioning of three new fields: Padouk, Inter Inoua-Barombi and Barombi," Cameroon's National Hydrocarbons Corporation (SNH) said in a statement on the output for the year to October.

The Dissoni oil field is operated by French oil firm Perenco in partnership with the state oil company. Perenco is also the operator in the Inter Inoua-Barombi and Barombi blocks. Addax Petroleum, a subsidiary of Sinopec Group, operates Padouk. Some at the state company are even more optimistic. "Crude production could double within two years thanks to the exploitation of new deposits. It could hit 57 million barrels in 2016," the SNH official said, requesting anonymity. The state oil firm said in the statement that gas production jumped 123.9 percent to 9,160 million cubic feet compared with the same period last year.


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…