Sterling Energy has disputed claims made by Cameroon’s state oil company that the Ntem concession in an “open block”.
Société Nationale des Hydrocarbures posted a map on its website indicating the block was up for grabs.
Sterling Cameroon has since hit back stating it was current holder of the Ntem Concession and it disputes the Ministry and SNH’s rights to re-licence the concession.
Chief executive Eskil Jersing said: “Sterling is disappointed that SNH and the Ministry have decided to try to promote the Ntem Concession as available to the market. Sterling has been engaging SNH and the Ministry throughout 2015 and continues to seek a collaborative solution given the declaration of force majeure and subsequent suspension of the First Renewal Period from May 2014.”
Sterling previously declared force majeure over the Ntem Concession on 6 May 2014 due to overlapping maritime border claims affecting the Ntem Concession by the Republic of Cameroon and the Republic of Equatorial Guinea.
A company spokesperson aded: “As a result, the First Renewal Period has been suspended since 6 May 2014 and therefore the Ntem Concession has not expired. In the event force majeure is lifted, approximately 10 months remain in the First Renewal Period.”