Cameroon Greenlights Bolongo License

Thursday, January 10, 2019

Cameroon approved the alliance between Glencore and state-run firm SNH, for the exploitation of the Bolongo block in the Rio del Rey Basin. The license, in which Glencore holds 75% stake, was given the greenlight by the government through presidential decree on January 8. The license is valid for 20 years and renewable for one period of 10 years.

Glencore had submitted an application for the exploitation of hydrocarbons on this block, to the Cameroonian authorities in June 2017. This came after a long exploration phase and a PSC signed with SNH in 2009.

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