We are registered crude oil consultants at the Ministry of Mines. We have a large verifiable equity bulk allocation for Bonny Light Crude Oil open for investors.
To carry out petroleum exploration and exploitation activities, the Cameroonian state can enter into either a production sharing agreement (PSA), a concession contract or a risk services contract (these contracts are referred to in the Petroleum Code as Petroleum Contracts). All recent Petroleum Contract awards have been made under PSAs.
We do have an exhaustive knowledge of the petroleum code that addresses all legal and regulatory matters relating to the conduct of petroleum operations in Cameroon.
• We have a clear understanding and identification of the nature of contract (Concession or PSC)
• We master negotiable and biddable issues and define then clearly.
• We provide a clear separation between the state as the regulatory Body and state body party to the petroleum contract.
• We have an understanding on those special conditions for exploring frontier acreages
• (Special petroleum operations Zones)
• We can advocate for Tax exemption on profits and dividends
We advise on a wide range of matters involving both upstream and downstream work. Our consultants and lawyers are familiar with contracts used in the licensing, exploration, development, production, transportation and abandonment of oil and gas fields and for the sale of gas and oil.
We represent multinational and independent oil and gas companies, host government energy companies, large utilities, private power plants, energy industry service companies, refineries, petrochemical companies, financial institutions, and multinational drilling contractors and construction companies.
We assist information collection on drilling blocks available, negotiate visits and studies, application for drilling permits and exploration licenses.
The invested capital will be employed to carry out petroleum exploration and exploitation activities.
Taxation: According to the Decree No. 2002/032/PM of 3 January 2002 setting out the basis and collection provisions in respect of the fees and royalties applicable to hydrocarbons, any assignment or transfer of interest in an exploitation authorization is subject a flat fee of XAF 250m (approximately $500,000).
The 2002 decree refers to transfer fees in respect of an exploitation authorization only. Since no reference is made to transfers of interest in respect of an exploration authorization no fees are payable in that case.