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The World Bank board has approved a $65m loan for the Energy Sector Development Project, and Rio Tinto Alcan has signed an agreement with the state Electricity Development Corporation (EDC) to provide technical assistance in the development of the Lom Pangar dam. According to the World Bank, “the Lom Pangar Hydropower Project (LPHP) is the anchor project to realise Cameroon’s significant hydro power potential. Cameroon’s three existing water reservoirs do not have sufficient storage capacity (total of 7.5km3) to maintain reliable power supply during the dry season.
Gas project for Saipem; Bowleven drilling; Saqqara start-up; Sequoia contract for Saipem,; Sonatrach, Indians sign for 95/96
The US Trade and Development Agency has awarded two grants totalling more than $1.3m to the Ministry of Energy and Water Resources.
Cameroonian state company Société Nationale des Hydrocarbures (SNH) has signed a production-sharing contract with Glencore and Afex Global for the gas-prone Matanda block (PH-72). Glencore, who will operate the block adjacent to Bowleven’s Etinde permit area, also has exploration acreage in Equatorial Guinea.
Cameroon can be a frustrating place to do business. Industry players complain of political appointments to key posts – privatised utility AES Sonel’s new deputy managing director Jean-Jacques Ledru is a presidential appointee – and a slow pace of negotiations. Anger at rising fuel and food costs spilled over into riots last month in which 17 people were killed, and President Paul Biya’s plans to amend the constitution to allow him to seek another seven-year term of office have dismayed many Cameroonians hoping for change.
Perenco to supply gas to Kribi plant; OCI to build Sidi Krir project; Chinese commit to $90m rural electrification scheme; Steel company orders equipment; HCB resumes supply to Zesa; Arab fund provides Roseires funding
ALGERIA: Sonatrach finds, CAMEROON: New onshore licence for Bowleven, COTE D’IVOIRE: Tullow, Kufpec join Edison block, GHANA: Songa Saturn for Kosmos, MAURITANIA: Sonatrach farms into Total acreage
