The Board of Directors of the National Hydrocarbons Corporation (SNH) held its first ordinary session for the year on of Mister Ferdinand Ngoh Ngoh, Minister, Secretary General at the Presidency of the Republic.

The activities conducted by SNH between the months of January and April were presented to the Board by the Executive General Manager, Mister Adolphe Moudiki.

The said activities took place in an international context characterized by an increase in crude oil prices on the one hand, and on the other hand, a depreciation of the US dollar against the euro.

SNH carried on with the implementation of its action plan in this environment, with globally positive results.

It is worth mentioning that a new oil field, Tiko, started producing in the Rio Del Rey basin, with an initial rate of 1500 barrels per day. The cumulative national crude oil production is 8.22 million barrels as of 30th April. This production has fallen by 15.61 % compared with the same period of the preceding year.

Concerning the national production of natural gas, it stands at 8 259.93 million cubic feet (i.e. 233.90 million m3) over the first four months of the year. The production has increased by 90.25%, thanks to the launch of natural gas liquefaction on the Hilli Episeyo.

The first molecules of Liquefied Natural Gas (LNG) were produced on 13th March, within the framework of commissioning tests of the aforementioned floating plant. As of 30th April, the production of LNG is 99 455 m3. The first 40 000 m3 shipment of LNG intended for export was lifted on that date.

Concurrently, supply of the domestic market with Liquefied Petroleum Gas (LPG, commonly called domestic gas) originating from the SNH depot at Bipaga started on 9th April, with the loading of a 20-metric-ton (MT) tanker. As of 30th April, 1 281.257 MT have been loaded for supply to the city of Yaoundé and its environs.

Meanwhile, SNH supplied the Kribi Thermal Power Station with 3 754.30 million cubic feet (i.e.106.31 million m3) of natural gas. The average daily consumption of the Station is 31.29 million cubic feet as of April monthend; this is higher than the minimum contractual obligation to lift of 28 million cubic feet per day. This level of consumption corresponds to an electricity production of 147 MW, out of an installed capacity of 216 MW.

With regard to crude oil, the quantities sold on behalf of the State stood at 4.056 million barrels as of 30th April, showing a decrease of 29.62%.

As part of transfers to the Public Treasury after deduction of production costs, the SNH contribution to the State budget stands at 122.61 billion CFAF as of 30th April, showing an increase of 13.05%.