Murphy Oil signs four production sharing contracts in Cameroon

Detailed summary

Learn more US-based Murphy Oil has signed four production sharing contracts (PSCs) covering approximately 2.6 million acres offshore Cameroon. The contracts cover the Elombo,…

US-based Murphy Oil has signed four production sharing contracts (PSCs) covering approximately 2.6 million acres offshore Cameroon.

The contracts cover the Elombo, Etinde Exploration, Ntem and Tilapia blocks.

Murphy Oil, acting through a subsidiary, will begin with 100% working interest and will serve as operator for all four blocks.

The deals give Cameroon's National Hydrocarbons Corporation (Société Nationale des Hydrocarbures, SNH) the option to acquire up to a 20% working interest if the projects move to development.

Murphy Oil and SNH intend to jointly assess the exploration potential of the blocks under the new contracts.

The announcement follows SNH's call for proposals covering nine exploration and production blocks as part of the licensing round that was open until 30 March 2026.

The acreage spans the Rio del Rey (RDR) and Douala/Kribi-Campo (DKC) basins and includes the newly awarded Etinde Exploration, Elombo, Ntem, and Tilapia blocks.

According to SNH, the nine blocks benefitted from proximity to established production sites and contain identified leads and undrilled prospects.

Investors were required to submit technical evaluations, minimum work programmes, budgets, environmental and social plans, and local content proposals.

Opening of the article, excerpted from Yahoo Finance. To read the rest, open the article on the publisher's site.