The Republic of Cameroon and Octavia Energy Cameroon SARL finalized a Production Sharing Contract (PSC) on August 14, 2026, in Yaoundé. This agreement concerns the exploration and potential exploitation of the Bolongo block. The financial commitment associated with the deal totals $41 million USD. This marks a significant step in Cameroon's efforts to develop its oil and gas resources. Details of the PSC outline the terms for revenue sharing and operational responsibilities between the Cameroonian government and Octavia Energy. The agreement is expected to boost investment in the country’s energy sector and contribute to economic growth. Further information regarding the specific exploration plans will be announced following a detailed review of the contract.