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Yaoundé - 22 July 2017 -
Hydrocarbons

VOG has already invested close to FCfa 115 billion in the Logbaba gas project through its subsidiary Gaz du Cameroun

VOG has already invested close to FCfa 115 billion in the Logbaba gas project through its subsidiary Gaz du Cameroun
  • Comments   -   Sunday, 09 July 2017 08:51

(Business in Cameroon) - We now have more information on the level of investments carried out by the British oil and gas operator Victoria Oil & Gas, in its gas distribution project for companies, from the Logbaba field, located in the suburbs of Douala, the economic capital of Cameroon.

Indeed, in a recent speech to investors, Ahmet Dik, MD of VOG, owner of Gaz du Cameroun (GDC), company operating in the Logbaba gas field, revealed the investments made until now, amounting to 250 million dollars, approximately FCfa 115 billion.

“The government of Cameroon supported and set the conditions through which GDC was able to operate and invest over USD 250 million, and encouraged new investors to establish their companies in Douala”, declared Ahmet Dik.

As a reminder, thanks to the construction of a natural gas treatment unit in Logbaba, and a pipeline network now over 20 kilometres long, GDC supplies about twenty companies in the Cameroonian economic capital in natural gas. These companies were thereby able to reduce their dependency on electricity, both costly and rare, due to recurring power cuts.

BRM

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