malcy4 Jun 2018 17:15
VOG has announced a Logbaba field reserves update of significant proportions. 1P reserves of 69 bcf is an increase of 29 bcf or 73%, field remaining 2P reserves are up to 309 bcf up 106 bcf or 52% and the reserves/production ratio is now 10 years at 90 mmscfd which supports growth in the Douala market as well as new long term gas contracts. This security of supply to long term buyers of gas will enable VOG to enter contractual negotiations with companies and generators safe in the knowledge that they will be able to deliver.
Whilst it has a been a difficult year following the ENEO problem VOG are getting themselves into a very strong position in Douala. Businesses, more eager than ever to have a reliable, long term contractual supply of gas will like this news and competitive power generators will thrive also. VOG is likely to end up with a bigger, stronger and higher margin business extremely well placed to satisfy the inevitable growing needs of Cameroon.
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