Victoria Oil & Gas Expects to Exceed 10.5 MMcf Production Target

Victoria Oil & Gas announced Monday that its wholly owned subsidiary Gaz du Cameroun (GDC) expects to exceed its gas production target of 10.5 million cubic feet per day, following the addition of three new industrial customers.

Production figures at GDC’s Logbaba gas processing plant stood at an average of 12.4 MMcf per day in May, with the first five days of June recording an average daily gas production rate of 16 MMcf. The total estimated additional daily consumption from the three additional customers is 0.7MMcf.

Victoria Oil & Gas Executive Chairman Kevin Foo commented in a company statement:

"We welcome Dangote, New Foods and Sic Cacaos as important new thermal customers for GDC. This is confirmation that industries will expand their operations when they can be guaranteed consistent supply of energy without the need for storage or transportation. Gas supply to the Bassa and Logbaba power stations is steady and we are now focussing on additional customers in the Bonaberi industrial area across the Wouri River. Our monthly average gas consumption is triple the February average and we expect to exceed our 10.5 million cubic feet per day target for the calendar year 2015."

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