The State of Cameroon and Murphy Oil Corporation officially signed four Production Sharing Contracts on November 11, 2026, during a ceremony presided over by the Minister of Mines, Industry and Technological Development, Professor Fuh Calistus Gentry.
Held at the headquarters of the National Hydrocarbons Corporation – SNH in Yaoundé, the agreement marks a significant push to accelerate offshore oil and gas exploration in the country.
The newly signed contracts cover four offshore blocks, Etinde Exploration, Tilapia, Elombo, and Ntem, located within the Douala/Kribi-Campo Basin. Together, these maritime concessions span a substantial combined surface area of 10,578.13 square kilometers, positioning Murphy Oil Corporation as a major exploration player along Cameroon’s coast.
Under the terms of the agreements, the company will execute a minimum exploration work program over a maximum timeframe of seven years. The initial three-year phase will prioritize reprocessing existing seismic data alongside conducting detailed geological and geophysical studies.
Following this stage, the agreements allow for two optional two-year extension periods, each mandating the drilling of an exploration well under every individual contract.
The total financial commitment for the exploration initiative, inclusive of the optional extension phases, is estimated at $200 million, or roughly CFAF 112 billion. This capital injection underscores renewed international investor confidence in the untapped hydrocarbon potential of Cameroon’s maritime domain.
Beyond capital investment, the deal promises tangible local economic benefits following the recent establishment of a Murphy Oil subsidiary in Douala. In the short and medium term, the local entity plans to recruit Cameroonian engineers, geoscientists, and support personnel, fostering technical skills transfer and expanding domestic participation in the energy industry.
The formal signing concludes extensive negotiations between SNH, representatives from relevant Cameroonian government ministries, and Murphy Oil Corporation. Collectively, these contracts establish a fresh milestone in Cameroon’s broader strategy to explore, develop, and maximize value from its offshore hydrocarbon reserves.
