Yaounde, Cameroon’s capital
Perenco joins Cameroon’s Etinde gas project
The JV is attempting to get back on track following previous delays
Anglo-French independent Perenco’s decision to buy into Cameroon’s Etinde gas project “is a testament to Etinde’s value”, says Eli Chahin, CEO of AIM-listed Bowleven, a partner in the venture. Perenco is to acquire UK-headquartered independent New Age’s 37.5pc operating stake in the Cameroonian field, subject to government approval and the assent of Bowleven, which has a 25pc share in Etinde, and Russia’s Lukoil, which has 37.5pc. Both joint venture (JV) partners have the right to pre-empt Perenco’s farm-in. The deal is “very positive news”, says Chahin, adding that “Perenco’s proven Cameroon oil and gas developments and substantial experience could provide an opportunity to accelerate our e
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