Bowleven Cameroon project towards gas agreement

摘要

Bowleven is hoping for a final investment decision on its US $900m Etinde platform project off Cameroon before the end of the year with a gas sales term sheet now agreed with the customer that could commercialise the fields. While the UK independent is still testing its final appraisal well on the IM field in the MLHP-7 block, it has agreed the term sheet for the proposed fertiliser plant with Ferroslaal. Ferrostaal in turn has finalised its own feasibility study with the Cameroon authorities and the midstream element of the project is now moving into FEED. The Etinde Exploitation Authorisation Application (EEAA) was submitted lo the Cameroon authorities late last year with the IM and IE discoveries on MLHP-7 the focus for Stage 1 of the 'hub and spoke' development. This will involve a platform over each with a total offshore cost of around $600m and onshore cost of S300m.