Key figures from 1^st January to 30 September 2023:

• National crude oil production : 17.901 million barrels
• Volume of crude oil sold on behalf of the State : 10.069 million barrels
• Average official sales price of crude oil : 78.838 USD per barrel ($/bbl)
• National gas production : 59.649 billion cubic feet
• Quantities of natural gas sold by SNH to Kribi Power Plant for electricity generation : 8.223 billion standard cubic feet (scf) at 1 000 British thermal units/standard cubic foot (BTU/scf)
• Average sales price of natural gas : 1 719.545 CFAF per scf at 1 000 BTUs
• Quantities of domestic gas (LPG) supplied by SNH to the local market : 26.300 billion metric tonnes (MT)
• Average sales price of LPG : 383 371.850 CFAF per MT
• Quantities of liquefied natural gas (LNG) exported for the State : 13.583 billion SCF
• Average sales price of LNG : 9.693 USD per mscf
• Association expenses, gas commitments and other commitments : 178.944 billion CFAF

Transferable balance to the State : 425.142 billion FCFA

About the transfers made by SNH to the State 

In accordance with its mission, the National Hydrocarbons Corporation (SNH) transfers to the State revenues from the sale of hydrocarbons, after deduction of expenses.

When referring to transfers to the State, two terms are used: transferable balance and transferred balance.

The transferable balance is taken from the Table of Oil Operations, a forecast table of income and expenditure, which is updated at the beginning of each quarter.

An adjustment is made at the end of each quarter to take into account final payments.

Adjustments done in the 4^th quarter of a given fiscal year are taken into account in the 1^st quarter of the following fiscal year.

Based on this mechanism, there is necessarily either a windfall (too much transferred) or a shortfall (less transferred) charged to the following year.

The balance transferred corresponds to the amount that is effectively transferred during a given fiscal year. These transfers are recorded as revenue in the State Financial Operations Table (TOFE) under the heading "SNH Royalties".

Recap on production, sales and payments per fiscal year

2023 Summary table  (Pdf or Excel)

2022 Summary table  (Pdf or Excel)           2021 Summary table  (Pdf or Excel)           

2020 Summary table  (Pdf or Excel)          2019 Summary table  (Pdf or Excel)          

2018 Summary table  (Pdf or Excel)          2017 Summary table  (Pdf or Excel)

2016 Summary table                             2015 Summary table

2014 Summary table                             2013 Summary table

2012 Summary table                             2011 Summary table

2010 Summary table                             2009 Summary table

2008 Summary table                             2007 Summary table

Details accounts of SNH

Mandate of the state

Summary of financial statements

2021(General report)     2021(Summary)     2020      2019      2018       2017          2016     

2015           2014           2013

Certification reports

2021     2020      2019      2018       2017          2016           2015           2014           2013

Company

Summary of financial statements

2022     2021(General report)      2021(Summary)    2020      2019        2018       2017        

2016       2015           2014           2013            

Certification reports

2022        2021      2020 (General report)           2020 (Special report)       

2019        2018       2017         2016           2015           2014           2013

A promising sub-soil

In Cameroon, there are two main types of sedimentary basins, which belong to three active African petroleum systems, namely, Niger Delta, West African salt basins and Southern and Central Africa rifts. They include:

•  the coastal sedimentary basins
•  the intracratonic basins 

The coastal basins, producing

• Rio Del Rey: about 7 000 km^2. 
• Douala/Kribi-Campo: 19 000 km², of which 7 000 km² onshore. 

Intracratonic basins, non-producing

• Logone Birni: 27 000 km², of which 8 506 km² awarded to Chinese company Yan Chang, which won a production sharing contract in April 2009, for oil prospection and exploration on the Zina and Makary blocks.
• Mamfe: about 2 400 km². Heliomagnetotelluric and geological studies on the prospectivity of the basin completed.
• Garoua: 7 800 km². 500 km of 2D seismic data collected. Surface geological studies completed. 

A flexible petroleum system which offers incentives

Cameroon’s petroleum system provides for contractual, economic and fiscal incentives.

The flexibility of the Petroleum code allows negotiation of three types of contracts recognised by the industry: the production sharing contract, the concession contract and the risk service contract. 

The gas code which defines the accounting, financial, fiscal and customs provisions which apply to activities related to the development of gas, provides for:

• the concession system for transport and distribution activities;
• the licence system for processing, storage, import and export activities;
• the authorisation system for the sale of gas, importation and installation of material and equipment intended for the creation of gas transport and distribution networks, gas storage centres as well as measurement and security equipment to be used by operators and customers. 
  

Regulatory texts to download

1. Decree no. 2023/232 of 04 May 2023 to lay down conditions for implementing law no. 2019/008 of 25 April 2019 to institute the Petroleum Code
2. Petroleum code (2019)
3. Gas Code
4. Law on the development of associated gas 
5. Implementing Decree of the Law  on the Development of Associated (french)
6. Model agreement for the transfer of non-exclusive E&P data on Cameroon
7. Model Production Sharing Contract

Background

Oil prospection began in Cameroon in 1947. The first commercial discoveries were made in the Rio Del Rey basin in 1972, but the country became an oil producer only in 1977, when Kole field was put on production.  Production reached the record level of 186 000 barrels per day in 1985. However, beginning 1986, when the "oil price collapse" occurred, it began to decline.

Faced with this situation, incentive measures aimed at reviving exploration/production activities were taken by the State as from 1990. Thanks to these measures, oil production was launched in the Douala/Kribi-Campo basin in 1997 from the Ebome field.