VOG prepares for new drilling in Cameroon

Gaz du Cameroun (GDC), a VOG subsidiary, is planning to start drilling before the end of the third quarter, with the programme due to complete by the end of the year.

Victoria Oil & Gas plc (LON:VOG) is preparing to start new drilling operations in Cameroon, as a rig has now arrived at the port in Douala.

The rail-mounted rig arrived at Douala, the nearest City to VOG’s Logbaba plant and gas field, along with 2,756 tonnes of bulk load and containers. The equipment has been offloaded and is ready for customs clearance. The new well site is some 12 kilometres from the port.

Gaz du Cameroun (GDC), a VOG subsidiary, is planning to start drilling before the end of the third quarter, with the programme due to complete by the end of the year.

It is planned that GDC will drill two wells in the Logbaba gas field to supplement the two existing production wells. The wells are being drilled to help GDC meet demand for gas, and as such both are expected to be tied into the production facilities immediately after completion.

Ahmet Dik, VOG chief executive, said: “The drilling rig has arrived in Douala port and we plan to commence drilling at the Logbaba site as soon as practicable.

“Our intention is to complete both the step-out and twin wells during 2016 aimed at unlocking further reserves and production capacity for sale to the burgeoning energy market in Douala.

“Additional gas reserves can be rapidly monetised to supply our captive energy market which we believe is largely insulated against fluctuating oil price and currency movements."