Perenco, SNH renew offshore Cameroon production sharing contract
June 12, 2023
Perenco has signed a new 20-year production sharing contract with Société Nationale des Hydrocarbures (SNH) for continued development of the Rio del Rey Basin offshore Cameroon.
LONDON — Perenco has signed a new 20-year production sharing contract with Société Nationale des Hydrocarbures (SNH) for continued development of the Rio del Rey Basin offshore Cameroon.
The basin, which came onstream in the 1970s, accounts for about 70% of Cameroon's oil production and employs more than 500 people, the company said.
Since Perenco acquired the concession over a decade ago, production has averaged 35,000 bbl/d, with a focus on redeveloping existing infrastructure and other measures to stabilize output.
Perenco first entered Cameroon in 1993 by acquiring the Moudi concession, in association with SNH, and the partnership has since developed numerous oil and gas projects.
In 2018 work began on an LNG development with the FLNG Hilli Episeyo.
