The Cameroon Senate last week passed fresh upstream legislation designed to replace the nation's 1999 Petroleum Code, paving the way for indigenous participation and regulating several areas previously unaddressed such as gas development and field unitisation, and introducing a new incentives regime.
The new code represents a framework law with details and procedures yet to be specified in an implementation text to be signed by Prime Minister Joseph Dion Ngut, said the chief executive of oil consultancy ST E&P Advising, Simon Tamfu, a former exploration director of state oil company SNH.
