Cameroon to open coastal areas for oil exploration

CAMEROON WILL SOON will soon begin licensing companies to explore for oil in the Atlantic coastal Bakassi peninsula and nearby Mamfe basin, a senior official in Cameroon's state-run National Hydrocarbons Corp., or SNH, has said.

"Results obtained from the Mamfe basin have since 2009 attracted the interests of oil companies, which want to invest in the area," said Serge Angoua, who heads the department for the promotion of mining at SNH's oil exploration directorate.

He said SNH wants to "showcase" potential crude oil discoveries in the East Bakassi, West Bakassi and the Mamfe basin during the first half of 2010 to enable interested bidders to officially show their interest, Angoua said.

The West African nation's crude oil production in 2009 stood at 22.37mn barrels, down from 25.95mn barrels produced in 2008, according to SNH data.

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