Oil Exploration Underway On Bomana Block

Exploration is expected to begin on Bomana block in the Rio del Rey basin, in the maritime zone, any moment from now. The government of Cameroon and Perenco Rio del Rey signed the Production Sharing Contract at the head office of the National Hydrocarbons Corporation in Yaounde yesterday February 21, 2019.

Cameroon’s Minister of Mines, Industry and Technological Development, Gabriel Dodo Ndoke and the Executive General Manager of the National Hydrocarbons Corporation, Adolphe Moudiki, signed for Cameroon while Nicolas Serre, General Manager of Perenco, penned for his company.

Going by the terms of the contract, Perenco undertakes to carry out exploration acti vities on the Bomana block for a firm initial period of three years. The minimum work programme, according to a release that sanctioned the contract signing ceremony, “includes geoscientific studies, reprocessing of 3D seismic data over the entire block and drilling of an exploration well.” The minimum financial commitment made by Perenco for this exploration programme, Cameroon Tribune learnt, is 12.5 million US dollars.

The contract also stipulates that “depending on the results obtained during the first phase of the exploration, the company will be entitled to two renewals of its Exclusive Exploration Authorisation for two additional periods of two years each, during which it is planned, for each of the periods, the drilling of one exploration well.” The financial commitment for the three periods, with a maximum duration of seven years, is 36.5 million US dollars. Information indicates that the Bomana block, covering a sur face area of 222.75 km2, has an accumulated oil and gas potentials estimated at 68.1 million barrels of oil; encountered notably during previous works carried out on the area.

Previous works conducted on the block included the acquisition, processing and interpretation of 507.76 km of 2D seismic data (acquired in 1975, 1976 and 1986 b...