Victoria Oil & Gas Plc announces that its 100% owned subsidiary, Gaz du Cameroun S.A. ("GDC"), has commenced supply of gas to the Logbaba power station following successful installation of all gas fired electricity generators by Altaaqa Global (“Altaaqa”). 30MW of power is now being generated at Logbaba as per the contract with ENEO Cameroun S.A. (“ENEO”) announced on 29 December 2014.
The supply from Logbaba, coupled with the previously announced 20MW to Bassa power station, meets the 50 MW target and GDC’s responsibilities to deliver gas to both stations has now been met. This triggers take or pay conditions in the contract with ENEO. The total project was delivered in less than four months since the contract was signed.
Average gas production since the 50MW has been online is 14.5mmscf/d with a daily peak of 15.3mmscf/d.
Kevin Foo, Executive Chairman, said: "From contract signing to delivery of 50MW to the grid in less than four months is an outstanding example of how the project partners ENEO, Altaaqa and GDC have made this happen. Average production levels have risen to 14.5mmscf/d, three times higher than levels at the end of 2014, which underlines this transformational agreement for VOG and give us confidence GDC can meet its average production target of 10.4mmscf/d for calendar year 2015.”
