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Sat11292014

News Economy

Bowleven says to start Cameroon oil output in 2015

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U.K. energy firm Bowleven said on Tuesday that production from its Etinde oil project in Cameroon is expected to start up in 2015, not 2013.

The Chairman of the company's Cameroon unit, EurOil, had said on Sept. 24 in Yaounde that the production phase of the project would start next year.

"Bowleven seeks to clarify that guidance for its Etinde project offshore Cameroon has not changed from the previously stated date of 2015," the company said in an email.

Bowleven is the operator of the Etinde permit area and holds a 75 percent stake through wholly-owned local unit EurOil.

Cameroon is one of sub-Saharan Africa's oldest oil producers and is struggling to maintain output levels.

Production so far this year has averaged a little over 60,000 barrels per day, down from a peak of 185,000 bpd hit in the mid-1980s.

Reuters