The research exploration across the country thus the modernization and expansion of the refinery has entered in a logical improvement of supply in order to meet a more and more important external demand
Despite a difficult international financial situation, the CEO of Sonara, Charles Metouck, was able to mobilize the necessary funding.
Currently ranked among the average oil producers in Africa, Cameroon continues to feed its ambition to increase the oil production of the country and play in the big leagues. Recently, a number of exploration and exploitation have been granted to international companies, the aim being to find and highlight locations with oil fields. Under the auspices of the National Hydrocarbons Corporation (SNH), the secular arm of the state in this field, onshore and offshore researches are underway in both Rio del Rey Basin in the Atlantic Basin, and in the loop Douala, Edéa, Limbé and Kribi.
Expansion and modernization of oil installations
While researches continues, the authorities have decided to proceed with the expansion and modernization of the country's only refinery, for an investment of 350 billion CFA francs allocated for the improvement of the production tool of the National Society of refining (SONAR). The first phase of work, which has begun in recent months, is coming to an end, opening the gap to the second phase, to be completed in less than three years. According to forecasts, oil production in Cameroon, which is currently at 2, 1 million tons per year, could reach 4 million tons per year, a doubling of national production which is expected by 2015.
Drawing conclusions from the past, the plant in expansion and full modernization respond effectively to the types of crude oils produced in Cameroon, which ensures that the amount of Cameroonian oil refined in Nigeria and other countries will now be made on site, which will be a gain in State’s revenue. Despite a difficult international financial situation, the CEO of Sonara, Charles Metouck, could raise the necessary funding through a loan from a syndicate of local banks and subsidiaries of multinationals, amounting 150 billion CFA francs for the achieving of the first phase of expansion which should be completed before the end of the current year.
Demand exceeds supply
After the start of earthworks and civil engineering, the next critical phase will consist of the equipment itself. Thus, among others will be provided a room equipped with a digital line before connecting to the various units and the construction of ten storage tanks for crude oil and finished products.
New capacities which will further increase the flexibility of the refinery in inventory management. Furthermore, the installation of a vacuum distillation will give the refinery more flexibility in its operations, with the possibility of treating large quantities of waste generated by atmospheric distillation according to the nature of selected crude oils. This is a feature that was not anticipated in the construction of the refinery, thirty years ago.
According to forecasts, oil production in Cameroon, which is currently 2, 1 million tons per year, could reach 4 million tons per year, a doubling of national production which is expected by 2015.
The domestic market is sufficiently covered; Sonara intends to strengthen its presence on continental and international market, particularly in the countries of the sub-region and those in the Gulf of Guinea, including Nigeria and Central African Republic, this area which already accounts 40% of current production of Sonara and where demand is still high. With countries that produce up to 17 million tons of oil annually in the Gulf of Guinea, including Angola and Nigeria, which are among the leading producers on the continent, Cameroon, which acts now as the average producer, wants at least to occupy the fifth rank in Africa within the next decade. In addition, it intends to make a prominent place in Europe and the United States, with products of Sonara whose quality is recognized in this sector yet known as sharp and competitive.