Project Profile

Location: Douala Basin, Gulf of Guinea, Cameroon
Area: 1,235 square kilometres
Reserves: 1.8 trillion cubic feet of gas and 136 million barrels of gas condensate
Start-up Year:

The Matanda Block, containing the North Matanda Field, is situated in the Gulf of Guinea, one of Africa’s richest hydrocarbon zones. With an area of 1,235 square kilometres covering both an onshore and offshore portion of the Douala Basin the Matanda Block is advantageously sited adjacent to West and Central African commercial/industrial heartland centred on the port city of Douala. The Matanda Block’s location positions it as a strategic supply of natural gas for the region’s future economic growth.

The Upper Cretaceous North Matanda Field was first explored by the Gulf Oil Corporation in the 1980s and to date three offshore wells drilled on the Matanda Block have tested both gas and condensate from the field. The Upper Cretaceous Logbaba gas and condensate field, brought into production in 2011 by Victoria Oil and Gas Plc (VOG), lies just a few kilometres up-structure to the northeast of the North Matanda Field. The Matanda Block also contains additional Cretaceous prospects and Tertiary prospects that offset the Moambe and Zingana discoveries drilled in 2015 by BowLeven Plc, in the adjacent Bomono concession.

AFEX won the Matanda Block in an international bidding round held in 2007 and, together with Glencore Exploration Cameroon Ltd (Glencore), signed a Production Sharing Contract (PSC) in April 2008, with Glencore being appointed operator. In December 2015 Glencore assigned 15% of its PI in the Matanda Block to AFEX, increasing AFEX’s PI to 25%, and in February 2016 assigned its remaining 75% PI and the operatorship to VOG through its 100% owned subsidiary, Gaz Du Cameroun Matanda S.A. (GDC Matanda).

Operators:

Victorial Oil and Gas: Operator with 75% interest

AFEX: 25% interest


Contractors:


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