logoBC
Yaoundé - 31 May 2020 -
Hydrocarbons

Cameroon: Victoria Oil and Gas’ average gas production reached 8.5mln mmscfd as at Jan. 19, up 51% from Q4 2018

Cameroon: Victoria Oil and Gas’ average gas production reached 8.5mln mmscfd as at Jan. 19, up 51% from Q4 2018
  • Comments   -   Friday, 14 June 2019 14:19

(Business in Cameroon) - Gaz du Cameroun (GDC), the local subsidiary of Victoria Oil & Gas (VOG), saw its production increase at the beginning of 2019, after a rather difficult 2018.

As at January 19, the company produced an average of 8.5 million standard cubic feet per day (mmscfd) of gas at its Logbaba field, reliable sources revealed. Record level of 12.96 mmscfd was reached on January 18.

This increase follows the resumption on 22 December 2018, under a three-year contract, of gas supplies to power utility Eneo, whose consumption has doubled. According to GDC, Eneo's gas consumption is higher than the 4.88 mmscfd take or pay level (mechanism through which the seller guarantees the delivery of a certain quantity of gas and the buyer guarantees the payment, whether he takes delivery or not); this allows GDC to produce 30 MW of electricity,” source said.

In Q4 2018, GDC's sales increased by 14% to 403.8 mmscf compared to the third quarter. Gas production increased by 20% to 4.45 mmscfd. Throughout 2018, the average daily gas production rate was 3.75 mmscfd and sales reached 1,410 mmscfd.

S.A

the-wood-sector-requests-support-to-tackle-the-twin-shocks-of-falling-demand-and-covid-19
In Cameroon, the wood sector has not been spared by the coronavirus. According to Giorgio Giorgetti, the president of the Cameroonian loggers’ association...
inflation-the-ins-doubts-cameroon-will-meet-the-community-benchmark-due-to-the-covid-19
In its recent note on the change in the consumer prices in Cameroon, the National Institute of Statistics (INS) listed the factors that should influence...
anti-covid-19-drugs-and-tests-production-process-is-being-finalized-madeleine-tchuente-says
"The process of production of endogenous drugs, test kits, vaccines and other health equipment dedicated to the fight against Covid-19 is being...
cameroon-world-bank-grants-xaf44-bln-loan-to-empower-women
On May 28, 2020, World Bank Executive Directors approved a $376 million (over XAF221 billion) loan as the fourth additional financing for the...

Mags frontpage


Business in Cameroon n87: May 2020

Roads, dams, fiber optics, markets... Cameroon’s big projects toward integration


«Central Africa is facing enormous challenges» - AfDB


Investir au Cameroun n97 Mai 2020

Routes, barrages, fibre optique, marchés… Les grands chantiers camerounais de l’intégration


« L’Afrique centrale est confrontée à d’énormes défis » (BAD)