New Blocks On Offer But Will Interest Be Deep?
Cameroon is set to offer more hotly anticipated West African acreage to explorer s with a new onshore and offshore bidding round. The round will include both proven and frontier acreage with five block s from three areas for bid ding .
Blocks in the Rio del Rey basin are in proven petroleum basins with existing production, including the Kole/Bavo-Asoma production hub. This should help to d e-risk exploration in the area, while vintage 2D data and a number of already identified leads and discoveries on the Kombe-Nsepe block should support interest . Finally , the onshore Manyu block is a true frontier : the area is covered by forest and lack s existing exploration data.
Cameroon is keen to capture a slice of the action in West Africa's waters. New investment in exploration and production along the Atlantic transform margin has seen Ghana become an oil exporter, and has seen major s such as ExxonMobil move i nto frontier deepwater acreage offshore Liberia ( see our online service, March 12 2013, 'Where Do ExxonMobil's Troubles Leave Smaller Players' ). Yet, for Cameroon, geography will be a challenge, as it lacks access to the deepwater acreage where sub-salt prospects have attracted interest from Sierra Leone to Angola.
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|Cameroon Oil Production, Consumption & Net Exports, 2010-2022 ('000b/d)|