Victoria Oil and Gas has hit a major milestone in its onshore gas project in Cameroon, the UK-listed explorer said yesterday. The subsidiary of Victoria which owns a 60% stake in the Logbaba gas project has recouped the initial exploration costs it provided to get the ball rolling on the development. Subsidiary Gaz du Cameroun (GAC) had been receiving 100% of the revenues from Logbaba to cover the outlay on exploration, whilst contributing 60% to operating and capital costs.
Natural gas producer Victoria Oil & Gas has appointed Ahmet Dik as its new chief executive.
Victoria Oil & Gas has strengthened its leadership team with the appointment of a new group chief executive.
SDX Energy is withdrawing from the Bakassi West project, offshore Cameroon as it concentrates on its core assets.
Bowleven has been awarded a one-year extension to the existing Bomono exploration licence, onshore Cameroon.
Victoria Oil & Gas has secured a $26million debt facility to support its production expansion at Logbaba through 2016 and 2017.
The Cameroon government has approved Victoria Oil & Gas taking the controlling interest in the Matanda production sharing contract.
Scottish oil company Bowleven said it remains in a strong position despite recording a $132million loss in the second half of 2015.
SDX Energy has begun drilling on its high impact "transformational" Manatee-1 exploration well on Bakassi West in Cameroon.
Victoria Oil and Gas has seen profits surge as production at its Logaba gas field in Cameroon kicks in.
Cameroon-based gas supplier Victoria Oil & Gas said there had been minimal impact from weak oil prices or customers changing back to oil..
Bowleven said it has now wrapped up an extended flow testing programme at Moambe and Zingana. The Africa focused oil and gas explorer said the results continue to support plans for around five to six mmscfd of gas for power generation under a development scheme with Actis and Eneo in Cameroon.
Victoria Oil & Gas, the Cameroon utility company, has confirmed that James McBurney has resigned as a non-executive director.
Sterling Energy made a loss after tax of $1.6million in the third quarter of 2015, as production from its main Mauritanian asset began to decline.
Victoria Oil and Gas recorded a $50.8 million dollar loss, blaming poor relations between the West and Russia for it being unable to sell its Russian asset.
MOL Group's Brian Glover said the company does not see any "great future" for itself in Central Africa as it eyes further success in the Middle East. In the second part of Energy Voice's week-long series looking at the Hungarian company's operations, the exploration and business development senior vice president spoke about ongoing operations. MOL has had a 40% working interest in the Ngosso Block in Cameroon since 2007.
A milestone has been reached in the Cameroon floating liquefied natural gas project after parties signed a gas convention. The final investment decision commits the project to a targeted start date for commissioning in the second quarter of 2017. At a signing ceremony in Cameroon the country’s state-owned oil company Société Nationale des Hydrocarbures (SNH), Perenco Cameroon, Golar Hilli Corporation and Golar Cameroon executed a an agreement which endorses and governs the installation and operation of the GoFLNG vessel in Cameroon waters offshore of Kribi.
Tower Resources has signed a production sharing contract (PSC) on the shallow water Thali offshore Cameroon. The company said the market downturn had provided an opportunity for the company to leverage “lower seismic and drilling costs”. A signing ceremony took place at the offices of the Societe Nationale des Hydrocarbures in the country.
Scots oil exploration company Bowleven has begun drilling operations on the Moambe exploration well on the Bomono Permit in Cameroon.
Bowleven, the Africa-focused oil and gas exploration group, has confirmed the first of a two-well exploration programme in Cameroon, has been drilled to its planned total depth and logged.
Victoria Oil and Gas said Gaz Du Cameroun (GDC) has completed laying pipeline to the boundaries of the ENEO Power Station at Bassa and Logbaba. The 20 MW Bassa Power Station is located a short distance from the company’s operating northern pipeline.