(Business in Cameroon) - Cameroon is currently negotiating a production sharing agreement with Addax Petroleum Cameroon Limited for the exploitation of the Ngosso block in the Rio Del Rey basin. This was revealed at the end of the second session of the administrative board of National Hydrocarbons Corporation (SNH), which was held through house calls from November 19 to 26, 2020.
Addax Petroleum Cameroon Limited is a subsidiary of the Chinese company Sinopec. On March 19, 2004, it obtained an exploration permit on the Ngosso block. The permit, which expired on January 25, 2016, covers a 474 km2 area located in a hydrocarbon-bearing basin.