OREANDA-NEWS. December 10, 2014. Chinese conglomerate petroleum Sinopec has set up shop in Cameroon after earlier undertaking oil and gas exploration in the country through a subsidiary, Addax Petroleum.

Sinopec, the largest oil and gas group in China, will now trade under the name Sinopec International Petroleum Service Corporation Cameroon Ltd, and is based in the country's economic capital, Douala.

Addax Petroleum has been drilling in the country's Mokoko Abana field in recent years and says it now produces 18,500 barrels of oil a day. The company says the oilfield, which has been tapped for about 30 years, has about 130 wells, 90 still in production.

Addax Petroleum says that among the reasons that drilling in the field has been successful is that the company has increased production and reduced operating costs.