Fusion wins Cameroon deepwater exploration license

March 19, 2001
Fusion Oil & Gas PLC said Monday it had signed a petroleum concession contract with the Republic of Cameroon for exploration of the deepwater Ntem permit in the Southern Douala/Kribi-Campo basin off West Africa. The prospect covers an area of 2,080 sq km where water depths range from 1,000 to 1,800 m.


By the OGJ Online Staff


LONDON, Mar. 19�Fusion Oil & Gas PLC said Monday it had signed a petroleum concession contract with the Republic of Cameroon for exploration of the deepwater Ntem permit in the Southern Douala/Kribi-Campo basin off West Africa.

The prospect, an area of 2,080 sq km where water depths range from 1,000 to 1,800 m, neighbors the northern border of the Equatorial Guinea territory of Rio Muni, where Triton Energy Ltd. discovered the 500 million-bbl deepwater Ceiba field in 1999.

Fusion holds 100% equity in the Ntem contract, which has three 2-year exploration terms. The company said it would be shooting 2D and possibly 3D data over the permit area in the first term to size up "several prospective features," noting that existing seismic data already suggests certain structures with possible direct hydrocarbon indicators.

The company said the Ntem permit is on the first deepwater tract the Cameroon government awarded.

Fusion has stakes in nine licenses off northwest West Africa, including interests in deepwater permits off Mauritania, Gambia, and Guinea-Bissau, covering a total area of 50,000 sq km.