(Business in Cameroon) - The Société Nationale des Hydrocarbures (SNH – National Hydrocarbons Company) signed, on 1st June in Yaoundé, with the Texan company Noble Energy, a production sharing contract for 47 billion m3 of natural gas and 18 million barrels of condensates on the Yoyo block, located in the Douala/Kribi-Campo basin.
Kelly Latter, Vice-President of Noble Energy, indicated that the signature of this contract with the Cameroonian side represented by Ernest Gbwaboubou (Minister of Mining) and Adolphe Moudiki (Deputy MD of SNH), will increase the visibility of the oil giant. The agreement between the State of Cameroon and the American company will run for 25 years, renewable one time, for a period of 10 years.
Noble Energy is an important American oil and gas company, with activities in oil and natural gas production and exploration. It has onshore operations in the USA as well as operations in the deep waters of the Gulf of Mexico. It additionally carries out exploration and production activities in countries such as Cameroon and Equatorial Guinea, and offshore operations in Ecuador, China and Israel.