Uche Cecil Izuora
Bakassi Peninsula, an area of some 1,000 square kilometers believed to contain oil and gas reserves, which also has been the subject of a dispute for 15 years between Cameroon and Nigeria is representing oil production hub for Cameroon.
Cameroon’s state-run National Hydrocarbons Corporation, or SNH, said Wednesday it is in talks with several drillings firms to start prospecting for oil in the hydrocarbon-rich Bakassi peninsula.
“We have to start prospecting for oil in the Bakassi zone and the Bolongo zone. These are supposed to be fertile zones,” SNH Director of Exploration Simon Tamfu told Dow Jones Newswires.
“Bidders are already coming in to examine the data we have, and after that, we expect to sign contracts with them,” he said, without naming any companies involved.
Cameroon gained full ownership of Bakassi in mid-August, but unrest continues, with rebels attacking Cameroonian troops and their installations.