How does Cameroon benefit from its oil and gas reserves?
Cameroon benefits tremendously from its oil and gas reserves. According to the U.S. Energy Information Administration, Cameroon’s petroleum production was 70,000 barrels a day in 2019 and 67,000 barrels a day in 2020. Cameroon has natural gas reserves estimated to be 4.8 billion cubic feet. Much of this gas remains undeveloped.
Does Cameroon have a shared gas field?
While potential exists for greater exploitation of the shared gas field, the project is still years away from full production, and more infrastructure is needed to see its completion. Cameroon benefits tremendously from its oil and gas reserves.
Should Cameroon develop a natural gas field?
Cameroon has natural gas reserves estimated to be 4.8 billion cubic feet. Much of this gas remains undeveloped, including the Yoyo-Yolanda field. If the Cameroonian government decides to develop these fields, there would be significant U.S. export potential.
What is Cameroon’s biggest export & import?
In 2019, Crude Petroleum was both Cameroon’s biggest export ($1.89 billion) and import ($347 million). Cameroon and neighboring Equatorial Guinea agreed in 2017 to develop their Yolanda and Yoyo gas condensate discoveries as a single resource jointly, but progress on a deal has since been slow.