(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.