Two days of negotiations. 9 blocks opened. 1 agreement signed. At the end of the discussions on August 4 and 5, 2026 in Yaoundé, SNH and OCTAVIA ENERGY finalized the Production Sharing Contract for the Bolongo Exploration block.
Selected on March 30, 2026, the company commits to a seismic and drilling program, with strict clauses on local content and the protection of the Gulf of Guinea.
Cameroon’s oil exploration reaches a new milestone. At the end of two days of negotiations held on August 4 and 5, 2026 at the headquarters of the National Hydrocarbons Company in Yaoundé, SNH and the company OCTAVIA ENERGY reached a final agreement on the Production Sharing Contract, PSC, for the Bolongo Exploration block.
The discussions were conducted under the aegis of the Permanent Negotiation Commission. On the Cameroonian side, the delegation was chaired by Nathalie Moudiki, Advisor No. 2 of SNH. Opposite, the company OCTAVIA ENERGY was represented by its Chairman and CEO, Ahmed Nabil Hayel Saeed.
OCTAVIA ENERGY was selected on March 30, 2026 following an international Call for Expression of Interest covering nine free blocks in the Cameroonian sedimentary basin. With the award of the Bolongo block, the State is concretely relaunching offshore exploration.
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An ambitious work program
The agreement provides for the execution of a program combining 3D seismic acquisitions and exploration drilling. Beyond the technical aspect, the PSC includes strong requirements: technology transfer, development of local content, and protection of the marine ecosystems of the Gulf of Guinea.
For SNH, this strategic partnership constitutes a major milestone in the revival of oil exploration in Cameroon. It aims to renew reserves and attract new investors in a context of energy transition.
The official contract signing ceremony is scheduled in the coming days. It will seal OCTAVIA ENERGY’s entry into the Cameroonian oil landscape and reaffirm the attractiveness of the national mining sector to international operators.
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