{"id":12321,"date":"2022-06-07T08:51:22","date_gmt":"2022-06-07T08:51:22","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=12321"},"modified":"2022-06-07T08:51:22","modified_gmt":"2022-06-07T08:51:22","slug":"cameroon-perenco-takes-over-operator-at-etinde-licence","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-perenco-takes-over-operator-at-etinde-licence\/","title":{"rendered":"CAMEROON: Perenco Takes Over Operator at Etinde Licence"},"content":{"rendered":"

Bowleven announces that it has been informed by New Age (African Global Energy) Limited (New Age), the operator of the Etinde JV, that New Age has signed a definitive conditional agreement with a subsidiary of Perenco S.A. to transfer all of New Age’s participating interests in the Etinde permit, and operatorship of the Etinde JV, to Perenco.<\/span><\/p>\n

The Transaction is subject to a number of approvals, including the customary regulatory approvals by the\u00a0Cameroon\u00a0government and the approval of the Etinde JV partners. Under the terms of the joint operating agreement, both LUKOIL and Bowleven have a 30 day right of pre-emption over New Age’s interest.<\/span><\/p>\n

Notwithstanding the Transaction, Bowleven will continue to be entitled to a final investment decision (FID) payment of USD25m from its Etinde JV partners which, following completion of the Transaction, would include Perenco.<\/span>\u00a0<\/span><\/p>\n

Eli Chahin, Chief Executive Officer of Bowleven plc, said:<\/span>\u00a0<\/span><\/p>\n

“The prospect of\u00a0Perenco\u00a0becoming our partner and operator at the Etinde permit is very\u00a0positive news.\u00a0We believe that Perenco’s\u00a0proven\u00a0Cameroon\u00a0oil and gas developments and substantial experience provide an opportunity to accelerate our efforts to secure FID and the associated\u00a0USD25m\u00a0payment to Bowleven. We look forward to engaging with Perenco and we will update shareholders in relation to Etinde developments in due course.”<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Bowleven announces that it has been informed by New Age (African Global Energy) Limited (New Age), the operator of the Etinde JV, that New Age has signed a definitive conditional … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":9272,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7447,7442,11,7444],"tags":[7981,344,387,7982,1722,1990],"class_list":["post-12321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-central-africa","category-countries","category-top-news","category-west-africa","tag-african-global-energy","tag-bowleven","tag-cameroon","tag-etinde","tag-new-age","tag-perenco","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/Cameroon-Etinde.jpg?fit=432%2C388&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3cJ","jetpack-related-posts":[{"id":12426,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-perenco-takes-over-operatorship-at-the-etinde-licence\/","url_meta":{"origin":12321,"position":0},"title":"CAMEROON: Perenco Takes Over Operatorship at the Etinde Licence","author":"","date":"July 12, 2022","format":false,"excerpt":"Bowleven announces the expiry of the 30 day right of pre-emption period pertaining to New Age (African Global Energy) Limited's definitive conditional agreement with a subsidiary of Perenco S.A., to transfer all of New Age's participating interests in the Etinde permit and operatorship of the Etinde JV to Perenco. Neither\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/Cameroon-Etinde.jpg?fit=432%2C388&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":14200,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-perenco-delivers-a-notification-of-termination-on-the-conditional-sale-of-new-ages-participating-interests-in-the-etinde-permit\/","url_meta":{"origin":12321,"position":1},"title":"CAMEROON: Perenco Delivers a Notification of Termination on the conditional sale of New Age’s Participating Interests in the Etinde permit","author":"","date":"January 29, 2024","format":false,"excerpt":"Bowleven announces that it has today been informed by New Age (African Global Energy) Limited the operator of the Etinde JV, that New Age has received a Notification of Termination from a subsidiary of Perenco S.A. which terminates the conditional sale of New Age's participating interests in the Etinde permit,\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/Cameroon-Etinde.png?fit=699%2C458&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/Cameroon-Etinde.png?fit=699%2C458&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/Cameroon-Etinde.png?fit=699%2C458&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":14051,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-bowleven-provides-operational-update\/","url_meta":{"origin":12321,"position":2},"title":"CAMEROON: Bowleven Provides Operational Update","author":"","date":"November 10, 2023","format":false,"excerpt":"Etinde, offshore\u00a0Cameroon In June 2022, New Age announced that it had signed a conditional agreement to sell operatorship and their 37.5% gross stake in Etinde to Perenco SA for an undisclosed sum, subject to the resolution of a number of conditions precedent, including regulatory approval from SNH. This transaction has\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/11\/Cameroon-Etinde.webp?fit=432%2C388&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":9756,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-new-age-receives-formal-approval-to-apply-for-a-new-etinde-exploitation-agreement\/","url_meta":{"origin":12321,"position":3},"title":"CAMEROON: New Age Receives Formal Approval to Apply for a New Etinde Exploitation Agreement","author":"","date":"January 25, 2021","format":false,"excerpt":"New Age Ltd (New Age), Operator of the Etinde licence, has received formal approval to apply for a new Etinde Exploitation Agreement (EEA). This would replace the\u00a0existing EEA which came into force by Presidential decree in January 2015. \u00a0The agreement was reached following discussions with the Government of Cameroon's representative,\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/Cameroon-Etinde.jpg?fit=432%2C388&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":10143,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-bowleven-provides-etinde-licence-operational-update\/","url_meta":{"origin":12321,"position":4},"title":"CAMEROON: Bowleven Provides Etinde Licence Operational Update","author":"","date":"March 31, 2021","format":false,"excerpt":"Etinde \u00b7\u00a0In December 2020 the Operating Committee gave the JV partners permission to apply for and negotiate a replacement EEA. The current licence continues to be in force until replaced. The new agreement would reflect a change in the development plan, focussing on the Cameroon gas thermal power generation sector\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/Cameroon-Etinde.jpg?fit=432%2C388&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":9271,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-etinde-reviewing-commercial-options-regarding-gas-offtake-condensate-marketing\/","url_meta":{"origin":12321,"position":5},"title":"CAMEROON: Etinde Reviewing Commercial Options Regarding Gas Offtake & Condensate Marketing","author":"","date":"October 7, 2020","format":false,"excerpt":"The Etinde financing plan will likely comprise various layers, including senior project finance debt, vendor financing from contractors, offtakers and likely equity. The latter will be a function of the agreed field development concept and the associated capex. The next stage of this work effort will be the preparation of\u2026","rel":"","context":"In "Central Africa"","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/Cameroon-Etinde.jpg?fit=432%2C388&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=12321"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12321\/revisions"}],"predecessor-version":[{"id":12322,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12321\/revisions\/12322"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/9272"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=12321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=12321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=12321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}