Exploration/production : A production sharing contract signed
The activities of the SNH between January and April 2019 were marked, in terms of Exploration / Production, by the signature on February 21, with Perenco Rio Del Rey, of a Production Sharing Contract (CPP) for the research and production of hydrocarbons in the Bomana Block.
In addition, actions to promote the nine free blocks of the national mining domain were carried out with a view to intensifying exploration activities, notably, with the promulgation by the President of the Republic, on 25th April, of a new law instituting the Petroleum Code.
As regards national hydrocarbons production, 8.10 million barrels of crude oil were produced as at 30th April, down by 1.53% compared with the same period of the previous year.
Significant increase in gas production and production investments
National production of natural gas stands at 26 414.04 million cubic feet (747.96 million m3), up 219.78%. This increase is driven by the launching in May 2018, of LNG exports from the Hilli Episeyo floating liquefied natural gas plant.
It is worth mentioning a significant increase in production investments, budgeted at 399.26 million US dollars for the 2019 fiscal year, as against 209.44 million US dollars in the 2018 closing forecasts.