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SNH estimates its stored oil data at over XAF10,000 billion

SNH estimates its stored oil data at over XAF10,000 billion
  • Comments   -   Thursday, 06 August 2020 14:07

(Business in Cameroon) - The Cameroonian National Hydrocarbon Company (SNH) estimates the value of oil data currently stored in its Mbanga-Bakoko (Douala) based Petroleum Information Center (PIC) at $18.736 billion (XAF10,346.12 billion). These data were collected during petroleum exploration and production activities carried out in the country.

According to the SNH, the PIC (which hosts an 80,000 linear meter storage room) received the first samples in 2018. By end-June 2020, it had centralized 150 boxes of samples collected during drills. Also, 2,900 boxes are yet to be transferred from Hydrac SA, an SNH subsidiary that controls hydrocarbons and water.  

It indicates that between 2004 and 2019, it generated XAF4,142 billion by selling licenses on the use of some of these data. Nevertheless, it adds, the data is mainly stored to have a better insight into the country’s hydrocarbon potential and ultimately make new commercial discoveries.

Created in 1999, the PIC was assigned the missions to collect, store, archive, and manage Cameroon's heritage in any form whatsoever. This heritage consists, in particular, of oil and gas drilling samples, seismic data, and well logs.

Since its creation, the PIC has identified, repatriated, organized, and sometimes reprocessed digital data that were held by oil operators. It is also keeping some physical data in its archive rooms. Also, it collected drilling samples (like muds) as well as samples from the subsoil or the seabed from operators still active in the mining industry. The samples were indexed and are provisionally stored at the Hydrac SA.

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