Continental Focus, International Reach

VOG Extends Gas Supply Agreement

Tuesday, June 27, 2017

Victoria Oil & Gas (VOG) extended its current gas supply agreement with ENEO Cameroon, the JV between UK Group Actis and the government of Cameroon. The supply agreement was extended until December 31.

The extension will enable ENEO and VOG’s 100% owned subsidiary, Gaz du Cameroun (GDC), to optimize all technical and financial elements of a long-term gas supply arrangement aimed at increasing the current contractual power supply of 50 MW to beyond 100 MW. The take-or-pay components will remain in place and, until year end, an interim gas price of $7.50/mmbtu has been agreed.

VOG also revealed that the drilling of the two new wells at Logbaba continues.

Commenting Ahmet Dik, CEO, said: “VOG and ENEO have agreed that gas supply will continue until the end of the year. We are working with ENEO to create long term solutions, using natural gas for power generation beyond 100 MW. We believe there is demand for more than 150mmscf/d in Douala and we are in discussions with third party IPP licensees to supply gas.”


« GO BACK