According to Cameroon¡¯s EITI Committee, the extractive sector contributed 3.9% to Cameroon¡¯s GDP in 2021 against 2.20 in 2020, 16.3% to the State revenue against 16.3% in 2020, and 31.2% to exports against 31.2% in 2020 (see table below). Upstream: Confirmed findings of oil reserves on the Chad Basin and the Bakassi peninsula remain unexploited.
Will Cameroon develop a new oil refinery?
If the Cameroonian government decides to develop these fields, there would be significant U.S. export potential. Downstream: In September 2022, the government of Cameroon indicated it will launch a public tender to refurbish the national oil refinery SONARA.
Should Cameroon develop natural gas?
Upstream: Confirmed findings of oil reserves on the Chad Basin and the Bakassi peninsula remain unexploited. Cameroon has natural gas reserves estimated to be 4.8 billion cubic feet, much of which remains undeveloped. If the Cameroonian government decides to develop these fields, there would be significant U.S. export potential.
Does Cameroon have a shared gas field?
While potential exists for greater exploitation of the shared gas field, the project is still years away from full production, and more infrastructure is needed to see its completion. Cameroon benefits tremendously from its oil and gas reserves.