Petroleum Africa
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Wednesday, April 2, 2014
Bowleven plc is on the precipice of converting its resources to reserves and its near term objectives are aimed at doing just that. In Cameroon the company is looking toward its FID for the initial phase of its Etinde development. Key focus for the company to achieve the FID is getting the grant of an Exploitation Authorization (EA) for Etinde.
A new PSC for the acreage not covered by the EA is also part of the company’s focus. The new PSA is part of Bowleven’s wider plans for Etinde, including the supply of gas to the potential CLNG project. The company said that with the Cameroon LNG scheme building momentum and creating the opportunity for an additional gas offtake solution, it remains focused on the broader basin-wide development plans for its Cameroon acreage. As part of this initiative it will continue to evaluate the significant upside potential identified in the Intra Isongo reservoir interval and integrate it into a possible future appraisal/development well drilling program.
It is also looking to finalize a GSA for the Ferrostaal fertilizer plant. The company says this is integral in the path to FID and ensuring aligned schedules for delivering first gas, and enabling the release of value from the associated liquids stream.
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