PERENCO TO RECOMMENCE PRODUCTION IN UNTAPPED CHAD OIL FIELDS

Perenco announced it has completed the acquisition of Glencore’s corporate entities holding its entire Chad Upstream oil interests.

As a result of this transaction, Perenco is now the ultimate sole owner of PetroChad Mangara (PCM).

PCM is the operator of the Mangara, Badila and Krim oil fields in the Doba Basin, southern Chad. The Badila and Mangara fields are two large oil reservoirs where production began in 2014, and which still have significant untapped potential. Krim is an undeveloped discovery.

Operations will now recommence with an expected return to previous production rates of 16,000 bopd in the near term. Oil production from the Badila and Mangara fields is exported via the Doba oil pipeline to Kribi, Cameroon.

Benoît de la Fouchardière, Perenco’s Group General Manager, said the company is proud to start a new chapter in its history.

“Perenco has been operating in Central Africa since 1992, a region where our know-how in operating oil and gas fields and developing infrastructure is highly applicable,” he said. “We look forward to working with the Chadian authorities to restart production from these important fields. We believe Perenco is uniquely placed to make a meaningful contribution to the ongoing responsible development of Chad’s hydrocarbon sector for the benefit of all stakeholders and are excited about establishing a long-term partnership with the country.

“We would also like to welcome the PCM staff into the Perenco Group, they are joining a network of 6800 professionals in 15 countries, and we look forward to a future of mutually beneficial collaboration.”