On 17 January 2018, industry sources revealed that Glencore Exploration Ltd (Glencore) sold 50% of its interest in the Bolongo block to Perenco plc (Perenco) who took over operatorship of the tract. The resulting ownership of the Bolongo permit is Perenco (50% operated interest), alongside with Glencore (50% working interest). Of note, the Bolongo block has been reduced in size at the end of 2017 (232 sq km) in order to delineate a new Bolongo Exploration permit that is included in the Licensing Round 2018. The company deal is understood to be driven by the upcoming development and production from the Oak oil field, discovered by Glencore in November 2012 and expected to bring an additional 10,000 bo/d to the countryâs output in 2018. Oil production in 1H 2017 in Cameroon averaged 80,000 bo/d. Â 
Glencore sold 50% of its interest in the Bolongo block to Perenco who took over operatorship of the tract. The resulting ownership of the Bolongo permit is Perenco (50% operated interest), alongside with Glencore (50% working interest).