Sterling Energy in Dispute with Cameroon over Ntem Block

West Africa-focused junior explorer Sterling Energy is in a dispute with the Republic of Cameroon the ownership status of the Ntem block.

Sterling issued a statement to the London Stock Exchange Tuesday in which it said it was aware that the Société Nationale des Hydrocarbures, Cameroon's state oil company, had included a map on its Web site that indicates that the Ntem Concession is an "open block".

Sterling insists that its Sterling Cameroon Limited subsidiary is the current holder of the Ntem Concession and disputes the right of Cameroon's Ministry of Industry, Mines and Technological Development and SNH to relicense the block.

Sterling declared force majeure over the Ntem Concession on May 6, 2014, dye to overlapping maritime border claims affecting the Ntem Concession by Cameroon and the Republic of Equatorial Guinea. As a result the First Renewal Period was suspended, which, Sterling said, means the Ntem Concession has not expired, so that once the force majeure is lifted there will be another 10 months of the First Renewal Period remaining.

Sterling CEO Eskil Jersing commented in a company statement:

"Sterling is disappointed that SNH and the ministry have decided to try to promote the Ntem Concession as available to the market. Sterling has been engaging SNH and the Ministry throughout 2015 and continues to seek a collaborative solution given the declaration of force majeure and subsequent suspension of the First Renewal Period from May 2014."

Have a news tip? Share it with Rigzone!


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at
 -  New Zealand Opens Block Offer Tender f... (Mar 22)
 -  High Calibre Staff Helps EnerMech Secu... (Mar 22)
 -  Offshore Industry To Play 'Vital Role'... (Mar 22)
 -  Unite Members Reject Latest OCA Deal (Mar 21)
 -  Aker Solutions Secures Johan Sverdrup ... (Mar 21)

Most Popular Articles

From the Career Center
Jobs that may interest you
Office Manager
Expertise: Asset Management|Operations Management|Secretarial or Administrative
Location: Von Ormy, TX
Sr. Analyst - Mobile & Application Development
Expertise: IT - Programming & Database|IT - Software Development|Project Management
Location: Houston, TX
Senior Project Manager - Chemicals
Expertise: Project Management
Location: Greenville, SC
search for more jobs

Brent Crude Oil : $50.64/BBL 0.62%
Light Crude Oil : $48.04/BBL 1.47%
Natural Gas : $3.01/MMBtu 2.58%
Updated in last 24 hours