Cameroon has a small offshore area because it does not
own Bioko Island, in the deep water extension of its rift basins – Rio
del Rey and Douala. Some oil production comes from shallow waters in Rio
del Rey and gas reserves have been found in both areas.
The country’s northern Rio del Rey basin, overlain by part of the distal
Niger delta, is well explored. Several fields were discovered in the
1970s, with the Kole field producing Cameroon’s first offshore oil in
1977. In the early 1980s additional exploration found small oil and
gas/condensate fields but since 1986 production has declined.
The first discovery in the Douala basin was onshore in 1954 but no
significant production has been achieved here. Several large gas
condensate fields were discovered offshore near Kribi from 1979 in
southern Douala. There may be potential for additional finds comparable
to Equatorial Guinea. Modest amounts of deep water oil and condensate
production may be realised after 2012.
Cameroon has extensive associated and non-associated gas prospects. It
is re-injecting or flaring all of its produced gas after liquids
recovery bit some gas will be marketed in 2009 in Cameroon’s growing
industries with considerable growth then expected.
Cameroon oil consumption has been flat whilst oil exports
declined each year. Exports will pick up a little over the next few
years allowing consumption levels to be maintained.
Gas use should begin in 2009, substituting for oil wherever possible, as
a gas infrastructure is built in the country or sent to Equatorial
Guinea for conversion into LNG.