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CORRECTED-Cameroon oil production to pass 82,000 bpd in 2014 -SNH

Thu, 27th Feb 2014 20:20

(Removes reference to Kosmos in paragraph 5 as it no longeroperates in Cameroon)

YAOUNDE, Feb 27 (Reuters) - Cameroon's 25 percent increasein oil production in 2014 will take daily output to just over82,000 barrels of oil per day (bpd), the SNH state oil companysaid on Thursday.

The increase is driven by the November 2013 start of oilproduction from the Mvia offshore oil field in theDouala-Kribi-Campo basin. However, output is well down levels ofaround 185,000 bpd in the mid 1980s.

"In 2014, Cameroon aims to produce around 30 millionbarrels, over 6 million barrels more than the previous year,"SNH said in a statement.

Oil accounts for 39 percent of exports and close to 45percent of foreign exchange earnings in the Central Africannation, according to the World Bank.

London-listed Bowleven, Sinopec unit AddaxPetroleum and French oil firm Perenco operate in thecountry.

Cameroon has launched a new bidding round for four oilblocks for the Bomana, Lungahe and Ndian River blocks in the Riodel Rey Basin and the Manyu block in the Mamfe Basin.

The deadline for submissions is June 26 and the results willbe released in mid-July. (Reporting Tansa Musa; Writing by David Lewis; Editing by EmmaFarge and David Evans)

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