(Business in Cameroon) - Over the first nine months of this year, Cameroon’s crude output stood at 18.82 million barrels, the national oil company (SNH) announced at the end of a Board meeting December 4, in Yaoundé.
According to the company, the whole year’s target was 25.50 million barrels, down 8.04% compared to last year, due to normal decline on producing fields.
Meanwhile, natural gas output reached 1.188 billion m3 with a year-target of 1.864 billion m3, up 373.99% compared to 2017. The increase, SNH said, is the result of the entry into production of FLNG Hilli Episeyo located offshore Kribi, Southern region.
The company welcomes positive results achieved under the deployment of its Action Plan, in a contrasting environment. This helped revive operation/production activities that were once affected by the decline in oil prices.
SNH forecasts related investments to stand at $324.29 million, an increase by 65.62% compared to 2017.