Cameroon is an example of where Perenco is undertaking successful strategy with activities focused on growing the company through material discoveries and maximising the value of existing assets.
Growth exploration activities have been focused on the onshore Kombe-Nsepe license, with partners Kosmos and SNH, and the deepwater Ebodje license. Kombe-Nsepe will see exploration drilling on two prospects, and a rig is being sourced to undertake these operations in 2010.
A deepwater well on the Ebodje licence has demonstrated the presence of all the elements of a hydrocarbon system, and discussions are ongoing with the Cameroonian authorities to enable additional exploration investment in this play.
Perenco has operated in Cameroon since 1993, as a partner with ExxonMobil and SNH, Cameroon's state-owned hydrocarbon company, and has undertaken exploration in the Moudi and Ebome Marine concessions. Perenco is also evaluating a number of gas opportunities that may add value to the development of Sanaga Field now that a gas sales agreement has been signed with SNH.
During 2011 Perenco drilled two high pressure, high temperature, wells on the Kombe-Nsepe permit, in partnership with Kosmos, making Perenco the leader in onshore exploration in the country.