Cameroon's Etinde Partners Award Feed Contract

The partners at the Etinde block in the shallow waters off Cameroon have awarded a front-end engineering design (Feed) contract to oilfield services provider TechnipFMC for development of the IM gas condensate field.

TechnipFMC will work with the venture's partners, UK-based Bowleven and New Age (African Global Energy), and Russia's Lukoil, to lead the onshore and offshore elements of the Feed programme, Bowleven said in a London stock filing on March 4. Meanwhile the reservoir engineering and sub-surface development aspects will be undertaken by the project's operator, New Age.

The initial phase of IM's development is expected to involve construction of an onshore gas processing, storage and export facility connected to an unmanned well head platform with associated pipeline infrastructure.

"The award of a lead Feed contractor is a significant milestone for the JV partners, as we look to make a final investment decision on Etinde in 2020," Bowleven CEO Eli Chahin commented. "We are excited about our plans for the initial phase of the proposed development and look forward to working with Technip to finalise our development concept for the field over the coming months."

New Age also signed a letter of intent in February on the supply of Etinde's gas to London-listed Victoria Oil and Gas, to supplement the latter's own supplies to Cameroon's power sector. A final contract is expected to be signed by March 2021.