RTRS:Cameroon oil output down 7.3 pct in 2011, revenue up
YAOUNDE Feb 10 (Reuters) - Cameroon's oil production fell 7.3 percent last year but revenues were up over 36 percent for the same period due to high oil prices, according to statistics published by the state-run National Hydrocarbons Corporation (SNH).
Average oil production dipped to 59,178 barrels per day in 2011, down from 63,900 bpd in 2010, the figures showed.
However, the SNH transferred 572.7 billion CFA francs ($1.16 billion) to the state treasury during the year, up from 420.1 billion CFA in 2010, the data showed.
The Central African country became a modest crude oil exporter in 1977 with production peaking at 185,000 bpd in 1986, but output has declined steadily since then due to maturing fields.
Last year, SNH said it was targeting production of about 100,000 bpd for this year as two new wells are due to come on line and as more oil is extracted from older wells. ($1 = 494.9120 CFA francs) (Reporting by Tansa Musa; Editing by David Lewis and Alison Birrane)
