APA – Douala (Cameroon) The US firm Noble Energy Inc., through its local subsidiary has signed a Production Sharing Agreement (CPP) with Cameroon’s National Hydrocarbons Corporation (SNH) for the Yoyo natural gas deposit in the Littoral region estimated at 47 billion cubic meters, APA can report from reliable sources on Sunday.
Located in a maritime area in the Douala-Kribi-Campo Basin, the block covers 679 square kilometers.
Geological and geophysical studies, as well as drilling activities in the area revealed hydrocarbon accumulations estimated at a minimum of 47 billion cubic meters of natural gas and 18 million barrels of light oil or condensates.
The contract, signed to last 25 years and renewable once for a period of ten years, covers the “Yoyo Production Sharing Contract”, aimed at facilitating the development of such resources.
Kelly Latter, Vice-President of Noble Energy Cameroon Ltd, said: “This
signature will increase our visibility in the country and elsewhere, as it is a viable and mutually beneficial contract.”
Noble Energy is an independent oil and natural gas research and production company, listed on the New York Stock Exchange.
It boasts of a large portfolio of oil assets in the United States, West Africa and the Eastern Mediterranean.