29 January 2017, London — Africa-focused oil and gas company Bowleven plc has stated that progress is being made within its assets in Cameroon.
“Progress is being made on our entire asset base in Cameroon and in the active screening of new opportunities,” Bowleven Chief Executive Kevin Hart said.
“The company’s robust balance sheet position enables it to move forward from a position of strength,” he added.
Following a recent Operating Committee Meeting (OCM), the Cameroon government and Etinde joint venture are to convene a technical workshop to discuss development options for the Etinde asset, according to Bowleven. The development options are said to include FLNG, gas-to-power and other possible solutions.
A Special Operating Committee meeting (SOCM) was also held between the Cameroon State and the Bowleven with regard to the development of the Bomono project. Formal resolutions confirming the State’s support for the award of a two year extension to the Bomono Exploration license (to December 12, 2018) and a Provisional Exploitation Authorization (PEA) have been signed.
“2017 is a key year for the company as we focus on executing our stated strategy for the benefit of all our shareholders,” Hart said.