LONDON (Alliance News) - Victoria Oil & Gas PLC on Monday said it has drilled, cased and cemented the uppermost section of its well La-107 in Cameroon, whilst a second well nearby was drilled to a depth of 400 metres.
The London-listed oil and gas producer said its gas producing and distributing subsidiary Gaz du Cameroun SA completed the spudding of well La-107 earlier this month under its Logbaba gas project, and then drilled, cased and cemented the top part of the well to a depth of 400 metres.
Operations on this well were then suspended as planned, and the rig was skidded a distance of 10 metres along the rail system to a second well, the La-108 well. The rig can skid between the two wells "in a matter of hours", Victoria Oil & Gas said.
Well La-108 then was spudded on November 12 and has been drilled and cased to a depth of 400 metres. After rig operator Savannah Oil Services Cameroon SA has drilled the 17.5 inches hole section on La-108, the rig will then be skidded back to La-107 to drill another section.
The Logbaba gas project is designed as a "batch drilling" programme, Victoria Oil & Gas said, meaning the rig is moved back and forth between wells, progressing through all the hole sections until the wells have reached target depth. This is meant to result in significant cost savings and efficiencies.
Shares in Victoria Oil & Gas were down 0.1% at 32.17 pence on Monday.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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