This is a best prospect industry sector for this country. Includes a market overview and trade data.
Last Published: 8/6/2019

In 2017, Crude Petroleum ($1.34 billion) was Cameroon’s biggest export, while Refined Petroleum ($396 million) and Crude Petroleum ($220 million) were its second and fourth largest imports, respectively.  Cameroon ranks 86 in the International Trade Administration's Top Markets Series on Oil and Gas Equipment.  Cameroon and neighboring Equatorial Guinea agreed in 2017 to develop their Yolanda and Yoyo gas condensate discoveries as a single resource jointly, but progress on a deal has since been slow.  While potential exists for greater exploitation of the shared gas field, the project is still years away from full production, and more infrastructure is needed to see its realization.

Cameroon benefits tremendously from its oil and gas reserves.  Production was 100,000 barrels a day in 2015 before declining to 75,000 barrels a day in 2016.  According to the U.S. Energy Information Administration, Cameroon has natural gas reserves estimated to be 3.9 billion cubic feet.  Much of this gas remains undeveloped.  In the meantime, Cameroon continues to concentrate on upstream and downstream activities.  Downstream, the country is refurbishing the national oil refinery, SONARA, although the facility suffered from a devastating fire of as yet unknown cause in June 2019.  There have been calls to build a second refinery to relieve the country from a regular disruption in gas supplies.  This second refinery represents a significant business and investment opportunity for U.S. firms.  There are opportunities in storage, pipelines, and gas to electricity power stations.  
 

Leading Sub-Sectors

Liquid Natural Gas Equipment (Upstream and Downstream)
Oil and Gas Exploration Equipment
Oil and Petroleum Refinery Equipment
 

Opportunities

Upstream:  Confirmed findings of oil reserves on the Chad Basin and the Bakassi peninsula remain unexploited.  Cameroon has natural gas reserves estimated to be 3.9 billion cubic feet.  Much of this gas remains undeveloped, including the Yoyo-Yolanda field.  If the Cameroonian government decides to develop these fields, there would be significant U.S. export potential.

Downstream:  The country has been refurbishing the national oil refinery SONARA, for almost five years.  Due to the high level of refined petroleum imports, there have been calls to build a second refinery.  A second refinery would represent a significant business opportunity for U.S. firm.  There are opportunities also in storage and pipelines.
 

Web Resources

Societe Nationale des Hydrocarbons

Prepared by the International Trade Administration. With its network of more than 100 offices across the United States and in more than 75 markets, the International Trade Administration of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.