{"id":12426,"date":"2022-07-12T13:03:45","date_gmt":"2022-07-12T13:03:45","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=12426"},"modified":"2022-07-12T13:03:45","modified_gmt":"2022-07-12T13:03:45","slug":"cameroon-perenco-takes-over-operatorship-at-the-etinde-licence","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-perenco-takes-over-operatorship-at-the-etinde-licence\/","title":{"rendered":"CAMEROON: Perenco Takes Over Operatorship at the Etinde Licence"},"content":{"rendered":"

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.<\/span><\/p>\n

Neither LUKOIL nor Bowleven exercised their right of pre-emption over New Age’s interest.<\/span><\/p>\n

A number of conditions to Perenco’s acquisition of New Age’s interest in the Etinde permit remain outstanding, including customary regulatory approvals by the Cameroon government, competition approval and, exclusive exploitation authorisation (EEA) Titulaire confirmation (by way of a letter issued by the Minister). Bowleven will provide a further update in due course.<\/span>\u00a0<\/span><\/p>\n

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

“The change of JV partner at Etinde is a key development in accelerating the path to FID with the Etinde JV to be spearheaded by a high calibre international operator with strong and longstanding roots within the Cameroon ecosystem. We believe that the project will benefit from best-in-class technical capability and a partner that brings additional optionality in ensuring a positive outcome for all stakeholders.”<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

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 … 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":[7442,11,7444],"tags":[7981,344,387,4515,1722,1990],"class_list":["post-12426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-top-news","category-west-africa","tag-african-global-energy","tag-bowleven","tag-cameroon","tag-lukoil","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-3eq","jetpack-related-posts":[{"id":12321,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-perenco-takes-over-operator-at-etinde-licence\/","url_meta":{"origin":12426,"position":0},"title":"CAMEROON: Perenco Takes Over Operator at Etinde Licence","author":"","date":"June 7, 2022","format":false,"excerpt":"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\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":[]},{"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":12426,"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":12426,"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":9271,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-etinde-reviewing-commercial-options-regarding-gas-offtake-condensate-marketing\/","url_meta":{"origin":12426,"position":3},"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":[]},{"id":10143,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-bowleven-provides-etinde-licence-operational-update\/","url_meta":{"origin":12426,"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":1451,"url":"https:\/\/www.oilnewskenya.com\/index.php\/bowleven-set-to-end-strategic-alliance-agreement-with-petrofac\/","url_meta":{"origin":12426,"position":5},"title":"Bowleven set to end Strategic Alliance Agreement with Petrofac","author":"Samuel Kamau Mbote","date":"July 15, 2014","format":false,"excerpt":"Africa focused oil and gas explorer Bowleven which operates in Kenya and Cameroon has announced it\u00a0will be terminating the Strategic Alliance Agreement with Petrofac after the two companies reached a mutually acceptable agreement. Under the agreement Bowleven will pay $9 million to Petrofac upon completion of the farm-out transaction as\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":"","width":0,"height":0},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12426","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=12426"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12426\/revisions"}],"predecessor-version":[{"id":12427,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12426\/revisions\/12427"}],"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=12426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=12426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=12426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}