Overview of the Extractive Industries
Although oil production in Cameroon declined since 2006, oil revenues still contributed 24% of government fiscal revenue, 50% of export earnings and about 6% of GDP in 2010. Recent oil finds, renewed investment in oil exploration and governmental plans to further liberalize Cameroon's energy sector may increase the hydrocarbons' share in the economy. In 2004 a pipeline across Cameroon, for oil export from Chad, was commissioned and built. This was partially financed by the World Bank Group as a part of the Chad-Cameroon pipeline project.
Status of EITI Implementation
The EITI Board decided 15 February 2012 that the EITI Candidate status of Cameroon is renewed for 18 months (until 15 August 2013), by which time Cameroon will be required to have completed an EITI Validation that demonstrates compliance with the 2011 edition of the EITI Rules. If Cameroon does not achieve Compliant status by 15 August 2013, it will be de-listed.
On 20 October 2010, the EITI Board designated Cameroon, as an EITI Candidate country that is "Close to Compliant”. Cameroon was granted six months (until 18 April 2011) to complete the remedial actions needed to achieve compliance.
Cameroon was accepted as a Candidate country on 27 September 2007.
Cameroon published its first EITI reports covering data from 2001 to 2004, and a second report covering data for 2005. The 3rd report published in August 2010 includes the mining sector for the first time, and covers data for 2006 to 2008. The Reports for 2009 and 2010 were published in February 2013. The quality of EITI Reporting has impreoved significantly in the last reporting cycle. Cameroon has to publish its 2011 Report before completing validation, in order to meet the timely and regular reporting requirement.
Governance of EITI Implementation
The National Committee is a multi-stakeholder group in charge of implementation the EITI in Cameroon. Minister of Finances Mr Alamine Ousmane Mey is the Chair of the EITI multi-stakeholder group. The National Coordinator is Agnès Solange Ondigui Owona.
Oil & gas companies: ExxonMobil*, Petronas, Noble Energy Cameroon, Sterling Energy, Kosmos Energy, TOTAL*, Pecten (Shell*), Victoria Oil and Gas.
* EITI Supporting Company
Mining companies: Sinosteel, Africa Aura Mining, Mega Uranium Corp, Hydromine, Free Mining Co.
* Note: Company list based on EITI research and is not conclusive
Further information about the status of EITI implementation in Cameroon can be provided by Regional Director Tim Bittiger at the EITI International Secretariat.
Cameroon is currently a Candidate Country. It submitted its validation report to the International Board of the EITI.