Petronas has made another inroad into the African continent now that the consortium in which it is a member commenced the construction of the Chad-Cameroon Integrated Oil Development and Pipeline Project.
Petronas has a 35% interest in the consortium responsible for the development of the project while ExxonMobil and Chevron holds 40% and 25% respectively. The world-scale project involves the development of landlocked oilfields in southern Chad and the construction of a 1070-kilometre pipeline from the fields to the coast of Cameroon to transport crude oil for export to world markets. The project is estimated to cost USD 3.5 billion and first oil is targeted in 2003.
It will produce about 225,000 bpd, totalling to about one billion barrels of oil over its 30-year life. An aggressive construction schedule has been drawn up, involving rapid mobilisation and commencement of critical infrastructure work in the fourth quarter of 2000. Pipeline installation will begin in 2001, in parallel with construction of oilfield processing facilities. Drilling of the first of the planned 300 wells in the oilfields will begin in late 2001 and will continue through initial production start-up in 2003.
