Tenure
3+2+2 years Exclusive Exploration Contract (EPSC)
A major sustainable indigenous operator (up-stream / down-stream).
Our vision
A major indigenous operator in oil & gas the sustainable exploration and production, and mining resources at national and regional level.
Our mission
Developing hydrocarbons (up-stream), refinery (down-stream), mining resources and renewable energy in a sustainable manner.
Investing in Oil & Gas Exploration & Production, Renewable Energy, Mining & Refinery.
Providing local contribution for increasing the production of hydrocarbons within an international context marked by the decrease in investments in oil and gas following the growing promotion of renewable energies and low-carbon uses due to sustainable development global objectives.
Step 1
Quick-start production
leveraging existing local
capacities and cross-
border experience & tools
Objective A:
quick-start at minimum investment costs
Objective B:
Optimization of operation costs and delays to meet funding grace period
Objective C:Intensive Transfer of technology on indigenous communities.
Step 2
Increasing production by drilling new wells in existing blocks
Objectives D:
Analysis of existing data
Objective E:
Afrenergy’s strategy based on Local Content Good Neighbor is in line with Cameroon regulations through strategic social investment within host communities (clean energy and water access, mobility).
Step 3
Increasing company oil &
gas deposits
Objective F:
Shooting seismic in unexplored areas (3D & Deepwater horizons) and increasing the visibility of difficult environments.
Putting in place a regional geophysical, geological and petrophysical evaluation office.
Partnership with local universities.
Step 4
Abandonment & dismantling
Objective G :
Compliance with Cameroon laws & regulations on sites restoration.
2010-2020: Key personnel developed a high level network in Cameroon & West Africa
2021: AFRENERGY Oil/Gas & Mineral Resources is incorporated in Cameroon after a thourough analysis and observations of Cameroon Hydrocarbon and Mineral Environment.
Management has significant experience in E&P, Mineral Resources operations, as well as in environmental analysis
Management team in United Kingdom/Nigeria & Cameroon (Broad view of international process;
Technical – Subsurface – Drilling – Development – Exploitation specialist team in Cameroon & Nigeria.
Flexible business agreements securing high end prospect generation and execution of optimizing drilling operations
Currently finalizing 3 licenses applications in Cameroon
Afrenergy Plc is a Cameroon-based & West Africa focused oil and gas exploration Production Company with an in-depth technical knowledge and relationships in Cameroon and Nigeria. The principals of Afrenergy Plc are the founders of AFRECOM ENERGY Nigeria / AFRECOM, two well known services companies in environment, Oil & Gas sectors ; it has to be noted that AFRECOM ENERGY Nigeria / AFRECOM Management has been instrumental in some significant discoveries, development, and Production, in the Niger Delta Basin, (Nigeria) - consequently, based on their combined experience (+180 years) in the oil, gas & energy sectors, they have decided to move forward by contributing to the first indigenous company in this sector in Cameroon.
The AFRENERGY PLC will fall under the new Cameroon government fiscal terms based on a recently approved PSC Model - Legal, Contractual and Fiscal Framework for E&P activities in Cameroon.
Tenure
3+2+2 years Exclusive Exploration Contract (EPSC)
Royalty
8-10%
Commitments
Seismic acquisition, reprocessing and drilling of at least 3 wells
State Participation
5-10% state participation
Oil Code: Law N 99/013 of December 22, 1999, and its Enforcement Decree N 2000/465 of June 30, 2000;
Gas Code: Law N 2012/006 of April 19, 2012 and its Enforcement Decree N 2014/3438/PM of October 27, 2014, aiming to promote investments in the downstream gas sector;
Law N 2011/025 of December 14, 2011 relating to the development of the associated gas aiming to promote the reduction of gas flaring
Signature Bonus
Expect a range of $2-5 Millions
Cost recovery
75% of production after Royalty
Taxes
Exemption
Production Sharing Pattern
Production range - State / Contractor
0-50 MMBO - 40% / 60%
50-100 MMBO - 45% / 55%
100-200 MMBO - 50% / 50%
200 MMBO - 55% / 45%
Having reviewed the opportunities presented by the Cameroon fields development and based on our wide experience on West Africa and Cameroon oil and gas Basins, we strongly believe this to be one of the few available opportunities to monetize discovered oil and gas
Cost efficient set up (Mastering all the items involved in oil business)
Strong Technical and Management team in Cameroon & Nigeria;
Experienced Drilling and Completion team in Cameroon/Nigeria/UK/Gulf of Mexico (more than 150 combined years)
Hands-on experience within high end Technology deployment and field Development projects both from Nigeria & Cameroon
Cameroon - Leases with favorable terms available through existing network - identified bases with more than 200 Mill boed of recoverable good quality oil
Pending success in Cameroon, opportunities are available in Chad & Equatorial Guinea
Production target of gross 10 000 boed by 2024-2025
$10 M draw-down on investment upon license award
Investors offered 100% of equity in AFRENERGY with management warrants executable immediately
Top management highly focused on value growth
Full or partial Exits offered through IPO when feasible
Currently producing approx. 85 000 – 90 000 boed (95% offshore)
Main currently producing 60 000 boed offshore
Refinery in city of Limbe / (Out of Service) for the moment
Politically stable
Cameroon Government has had an active lease award program over the last 10 years
English speaking in the Southwest/North West and French in the rest of Cameroon
Petroleum tax 5-10%
Corporate tax 40% of net profit
Expected 60/40 Production Sharing after return on investment
Key Facts
Go fishing where there is fish
225 mmbbs STOIIP;
Well Head Jacket,
FPSO Processing and Gas Export
• Oil development scheme
• Assumes water injection.
• 1st production assumed 2024-2025.
• All hydrocarbon processing on existing FPSO.
• Gas for own fuel and domestic GTE.
• Gas for Exportation
• Clients already identify
We are always happy to see new people in our enterprise. If you have the necessary experience and education we would be happy to see you on our team.
For more information concerning our vacancies, please write to us through info@afrenergy.cm with an attached updated resumé.
