NewAge takes over operatorship of Etinde

NewAge has taken over operatorship from Euroil of the Etinde Exploitation Authorisation Area, formerly block MLHP7, offshore Limbe in south-west Cameroon. NewAge holds a 30% stake, with Lukoil also holding 30%. The remaining equity is held equally by the previous operator Euroil and the Cameroon National Hydrocarbons Corporation (SNH). The Etinde field has estimated 2C (best estimate contingent) gas and condensate resources of 345mn boe and a tentaive first gas target in 2019.