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Wednesday, June 4, 2014
Bowleven has achieved a significant milestone in its development of Cameroon’s Etinde Permit with a formal resolution of support for the Etinde Exploitation Authorization Application (EEAAA). The company said that following a Special Operating Committee Meeting, held between the government and the Contractor (EurOil and its partner CAMOP) on May 21, a formal resolution confirming the government’s support and approval of the EEAA had been signed. The formal decree is expected to follow in due course.
The EEAA, which was submitted to the Cameroonian authorities for their approval in early-January, defines the means of monetizing the Etinde hydrocarbons by supplying treated gas to a state-sponsored fertilizer plant and also through a LNG scheme. The award of the exploitation authorization will give development and exploitation rights over block MLHP-7 for an initial period of 20 years.
Kevin Hart, CEO of Bowleven, said: “We are delighted to have achieved this key milestone in the plans to develop Etinde and to have taken this important step towards the award of an EA. We thank the State for signaling its support of the application and look forward to the support of the Head of State, H.E. President Paul Biya, via the official award. This will enable the progression of the exciting development opportunities on Etinde as we support Cameroon in its ambition to further develop its considerable hydrocarbon resources.”
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