The National Hydrocarbons Company (SNH) of Cameroon and the Franco-British Perenco renegotiate the contracts of association on the Moudi and Ebome oil fields. These agreements, which expire in 2021, will be converted into production sharing contracts, in accordance with the petroleum code.
With a view to establishing new types of contracts in 2021, several meetings took place between February 25 and May 19, 2020 between the National Hydrocarbons Company (SNH) of Cameroon and the Franco-British Perenco, learns us Invest in Cameroon .
“ The Perenco delegation, led by its CEO, Adrien Broche, met with the members of the Standing Committee for the negotiation of oil and gas contracts, on the terms of conversion of establishment agreements and association contracts for the fields Moudi and Ebome ”, reveals SNH. The company specifies that the contracts previously signed between the parties, under the laws of 1964, expire in 2021. As of next year, said contracts must be converted into production sharing contracts (PSC), in accordance with the provisions of the petroleum code Cameroonian.
This conversion will be a bit like the partnership that links the two parties on the “Moabi” field since a presidential authorization signed on January 8, 2019. According to the said authorization, Perenco obtains a 75% share and SNH, 25%. . This for a period fixed at 20 years. At the request of the company concerned, this authorization can be renewed only once, for a period of 10 years.
In terms of bonds, Perenco, within the framework of the exclusive “Moabi” operating license, must make available to the State each calendar year, 150,000 dollars (approximately 86 million FCFA) during the development phases. and exploitation for the vocational training, in the petroleum field, of Cameroonian nationals of all qualifications, not forming part of its staff.
Source: Agence Ecofin