Key data

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Key figures from 1^st January to 31^st December 2022:

Oil production: 24.951 million barrels

Volume of crude oil sold on behalf of the State: 15.233 million barrels

Gas production: 88 224.44 million cubic feet or 2 498.23 million m³

Quantity of natural gas sold to the Kribi Thermal Power Plant: 11.755 billion cubic feet of gas at 1000 BTU/scf

Quantity of domestic gas (LPG) delivered to Tradex to supply the local market: 28 678 metric tons (MT)

Quantity of liquefied natural gas (LNG) sold to the Singaporean subsidiary of Gazprom, Ltd for the State: 17 442.65 billion British Thermal Units (BTU)

Revenue generated for the State:

- - 830.492 billion CFAF in "SNH royalties" included in the State budget
  - 9.317 billion CFAF in corporate income tax (CIT)
  - 3.893 billion CFAF in various taxes.

On another level, the Chad/Cameroon Pipeline generated revenue of 37.29 billion CFAF for the State as transit fee.

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".