Cameroon's state oil company National Hydrocarbons Corp. (SNH) announced that it will offer a licensing round for four blocks, three offshore: Bomana, Lungahe, and Ndian River, all in the Rio Del Rey basin.
The Bomana block covers 139.67 sq. km. The Lungahe block covers 83.60 sq. km. SNH says both blocks are located near existing oil producing fields and hydrocarbon discovery wells. 3D seismic data exists for both blocks, which are located in the conventional petroleum operations zone. Both Bomana and Lungahe will be licensed for an intial period of up to three years, with options to renew twice for a two-year perioid.
Ndian River, located in shallow-water near shore, covers an area measuring 2510 sq. km. SNH says 2D seismic data coverage exists. This block and the onshore Manyu block will be licensed for an intial period of up to three years, with options to renew twice for a two-year period.
London and Paris-based Perenco acquired Total's Cameroon assets in 2010, holding acreage in the Rio del Ray and Douala basins (pictured). Bermuda-based explorer Kosmos Energy currently holds acerage on the Ndian River block, with 100% operating interest.
SNH outlined that the work program for the Bomana and Lungahe blocks must include the drilling of one exploration well, as well as conducting seismic data acquisition, processing, and reprocessing.
Licensing round deadline is 26 June 2014; SNH expects to have results by 16 July. Licensing round terms can be found here.
Meanwhile, Dana Petroleum has started 2D seismic acquisition operations in the Bakassi West, in the Rio Del Rey basin. Dana signed a PSC for the block with the government of Cameroon 18 months ago.
Bakassi West is in the Rio Del Rey Basin in the South West Region of Cameroon, adjoining the border with Nigeria, on the eastern margin of the Niger Delta.
It covers an area of almost 390 sq. km. Around 350 km. of 2D seismic will be acquired over the next six months and the first exploration well is planned for late 2015 or early 2016.
Co-venturers in the Bakassi West PSC are Dana Petroleum Cameroon Ltd (55% and operator), Madison Cameroon Oil and Gas Limited (35%) and SoftRock Oil and Gas Limited (10%).
Sterling Energy Plc also announced that work could restart on the Ntem Concession, offshore Cameroon.
The Ntem Concession has been under force majeure since June 2005, due to overlapping maritime border claims by the Republic of Cameroon and the Republic of Equatorial Guinea.
The border claims remain unresolved but the joint venture partners, Sterling Cameroon Limited and Murphy Cameroon Ntem Oil Co., Ltd, have now agreed, with Société Nationale des Hydrocarbures, the national oil
company of Cameroon, to formally lift the declaration of force majeure in order to allow exploration activities to proceed.
The current exploration period re-started on January 22, 2014, with a minimum work obligation of one exploration well in the remaining 15 months.
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