Victoria Oil To Exceed 10.5 Gas Production Target | Independent Newspapers Limited
Newsletter subscribe

Business, Power

Victoria Oil To Exceed 10.5 Gas Production Target

Posted: Jun 9, 2015 at 12:00 am   /   by   /   comments (0)

Victoria Oil & Gas has said that its wholly owned subsidiary, Gaz du Cameroun (GDC), was hopeful of exceeding its gas production target of 10.5 million cubic feet per day, following the addition of three new industrial customers.

The oil company noted that production figures at GDC’s Logbaba gas processing plant stood at an average of 12.4 MMcf per day in May, while it recorded an average daily gas production rate of 16 MMcf in the first five days of June.

The company said the total estimated additional daily consumption from the three additional customers is 0.7MMcf.

Executive Chairman, Victoria Oil & Gas Kevin Foo, said, “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.”