Victoria Oil & Gas' subsidiary, Gaz du Cameroun (GDC), has successfully drilled, cased and cemented the topmost section of the well to a depth of 400 meters.
Edinburgh-based Bowleven said that the Scottish oil explorer was making progress on developing its Cameroonian assets despite its losses widening by $40m in 2015/2016.
Africa-focused firm Victoria Oil and Gas said that drilling has started on two development gas wells in Cameroon. The wells will cost $40m and the drilling campaign will be wrapped up in the second quarter of 2017.
The High Court in Chad has fined Exxon Mobile with $74b for allegedly underpaying royalties for 15 years. The two other companies named in the case are Chevron Corp. and Malaysia’s state-owned Petroliam Nasional Bhd.
French electricity grid operator RTE, together with PwC and French infrastructure consulting firm Nodalis, has been chosen to help get Cameroon's new power grid company operational.
Gazprom has signed an eight-year off-take agreement for all the liquefied natural gas from the Perenco Cameroon export plant.