Victoria Finds More Customers for Cameroon Gas
West Africa-focused Victoria Oil & Gas (VOG) announced Wednesday that 15 customers are now taking gas from its Logbaba field in Cameroon. The firm said that since its last update in mid-December a further four customers have been commissioned and begun gas consumption, while another 10 contracted customers are awaiting conversion of their facilities to take gas.
VOG said that weighted average production is currently 2.8 million standard cubic feet per day for a standard operating week. The company, through its wholly-owned subsidiary Rodeo Development, holds a 95-percent interest in Logbaba and is the operator.
VOG added that it has identified more than 60 prospects for gas as well as on-site gas-fired power demand along the existing and planned route of its pipeline.
The firm also announced that Societe Generale has committed to a lending facility of $15 million, which VOG believes will satisfy a substantial part of its future funding requirements.
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