Cameroon’s National Hydrocarbons Corporation (SNH) and Octavia Energy completed negotiations on August 5, 2026, for a Production Sharing Contract covering the Bolongo exploration block in the Rio del Rey Basin.
The agreement followed two days of talks at SNH’s headquarters in Yaoundé. According to SNH, the contract will be submitted for official signature in the coming days.
Octavia Energy was selected on March 30, 2026, through an international licensing process launched by SNH for nine available oil and gas blocks. Bolongo was one of five blocks retained for contract negotiations, while four others in the Douala/Kribi-Campo Basin were awarded to Murphy West Africa Ltd.
The Bolongo block lies in the Rio del Rey Basin, Cameroon’s main oil-producing area and part of the eastern extension of the Niger Delta petroleum system. Octavia Energy says the acreage benefits from existing oil infrastructure and extensive seismic data.
The signing of the contract would allow the company to move toward exploration activities on the block.
Mercy Fosoh
