On 29 July 2026, the Board of Directors of the Cameroon Oil Transportation Company (COTCO) held a meeting in Douala, chaired by the Chairman of the Board, Mr. Mahamat Assouyouti.

Accompanying the Chairman on this occasion were the General Manager, Mr. Jean-Paul Simo Njonou, and the Deputy General Manager, Ms Haoua Daoussa Deby. As part of their remit to oversee COTCO’s governance and key strategic directions, the directors continued their review of the company’s strategic matters.

This session was primarily devoted to updates on discussions with the selected company regarding the conversion of the new tanker into a floating storage and offloading (FSO) unit. The directors were briefed on the progress of this process and the key technical, operational, and contractual aspects relating to the project’s implementation.

They also carefully examined the progress made and the main technical and operational challenges associated with the conversion, as well as the solutions likely to offer COTCO the best guarantees in terms of reliability, performance, and risk management.

At the end of the meeting, the Board of Directors encouraged the Executive Management to continue with the necessary analyses and due diligence to ensure the project’s success.