{"id":9756,"date":"2021-01-25T21:45:17","date_gmt":"2021-01-25T21:45:17","guid":{"rendered":"https:\/\/oilnewskenya.com\/?p=9756"},"modified":"2021-01-25T21:45:17","modified_gmt":"2021-01-25T21:45:17","slug":"cameroon-new-age-receives-formal-approval-to-apply-for-a-new-etinde-exploitation-agreement","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-new-age-receives-formal-approval-to-apply-for-a-new-etinde-exploitation-agreement\/","title":{"rendered":"CAMEROON: New Age Receives Formal Approval to Apply for a New Etinde Exploitation Agreement"},"content":{"rendered":"

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

\u00a0<\/span>The agreement was reached following discussions with the Government of Cameroon’s representative, Soci\u00e9t\u00e9 Nationale des Hydrocarbures, the national oil and gas company of the Republic of Cameroon (SNH). The authorisation is based on the following general terms:<\/span><\/p>\n

\u00a0<\/span>The new EEA would be for the production of hydrocarbons including the delivery of gas to thermal power plants or any other projects confirmed by the State.<\/span><\/p>\n

\u00a0<\/span>Commenting on the announcement, Eli Chahin, CEO of Bowleven, said:<\/span><\/p>\n

\u00a0<\/span>“We are pleased to announce that following a constructive dialogue between the Etinde JV partners and SNH, authorisation to apply for a replacement EEA has been granted.\u00a0 This is very positive news for the Etinde development, as it essentially eliminates the possibility of the Government of Cameroon removing the Etinde licence from the JV partners, following the end of the initial six year development implementation period in January 2021.<\/span><\/p>\n

\u00a0<\/span>The JV partners continue to make good progress towards achieving a Final Investment Decision on the licence in 2021 and I look forward to keeping all our stakeholders updated on developments over the coming months.”<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

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 … 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":[11,7444],"tags":[344,387,8940,1722,8696],"class_list":["post-9756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","category-west-africa","tag-bowleven","tag-cameroon","tag-etinde-licence","tag-new-age","tag-societe-nationale-des-hydrocarbures","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-2xm","jetpack-related-posts":[{"id":12426,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-perenco-takes-over-operatorship-at-the-etinde-licence\/","url_meta":{"origin":9756,"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":10143,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-bowleven-provides-etinde-licence-operational-update\/","url_meta":{"origin":9756,"position":1},"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":12321,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-perenco-takes-over-operator-at-etinde-licence\/","url_meta":{"origin":9756,"position":2},"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":14051,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-bowleven-provides-operational-update\/","url_meta":{"origin":9756,"position":3},"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":9756,"position":4},"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":10153,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-victoria-oil-gas-provides-matanda-logbaba-update\/","url_meta":{"origin":9756,"position":5},"title":"CAMEROON: Victoria Oil & Gas Provides Matanda, Logbaba Update","author":"","date":"April 1, 2021","format":false,"excerpt":"\u00b7\u00a0\u00a0\u00a0\u00a0Matanda.\u00a0\u00a0Well planning, procurement of long lead items and rig selection are underway, and the farmout process has been started with several parties registering interest. 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