Victoria on track for Logbaba December delivery

VICTORIA OIL & GAS is on track for December gas delivery from its Logbaba gas project in Cameroon and had signed gas sales pacts for 20 years.

Victoria said the sales agreements include gas price fixed at US$16 per mn British thermal unit for the first five years for its Logbaba gas and condensate project located in the industrial city of Douala.

The company said the first well, La-105, with gas flow at 55 mmcfd, was more than capable of meeting expected market demand in the medium term.

The second well, La-106, had gas flow at rates up to 22 mmcfd.

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