Cameroon’s oil and gas sector focuses on the upcoming Q4 drilling of Tower Resources’ NJOM-3 well after the ADES jack-up rig finishes its work with Addax Petroleum, the state-owned SCDP’s plan to build a new oil terminal in Kribi, and the ongoing legal disputes involving the national refinery, Sonara. Additionally, the country is grappling with rising fuel prices due to increased imports and declining domestic production.
Tower Resources is slated to begin drilling its NJOM-3 well in Cameroon in late 2025 after the ADES jack-up rig completes its contract with Addax Petroleum. The rig’s deployment is strategically timed to benefit multiple companies, including Tower and Addax, leading to more favorable commercial terms.
The state-owned petroleum storage company, SCDP, announced plans in early September to launch a new 230,000 m³ oil terminal in Kribi.
Sonara, Cameroon’s sole oil refinery, recently won a legal dispute against Sahara over payments for missed payments. However, import costs for refined products remain high due to Sonara’s shutdown in 2019, contributing to domestic fuel price increases.
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