{"id":10153,"date":"2021-04-01T09:39:58","date_gmt":"2021-04-01T09:39:58","guid":{"rendered":"https:\/\/oilnewskenya.com\/?p=10153"},"modified":"2021-04-01T09:39:58","modified_gmt":"2021-04-01T09:39:58","slug":"cameroon-victoria-oil-gas-provides-matanda-logbaba-update","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-victoria-oil-gas-provides-matanda-logbaba-update\/","title":{"rendered":"CAMEROON: Victoria Oil &#038; Gas Provides Matanda, Logbaba Update"},"content":{"rendered":"<p class=\"do\"><span class=\"cs\">\u00b7\u00a0\u00a0\u00a0\u00a0<\/span><span class=\"cr\">Matanda.\u00a0\u00a0<\/span><span class=\"cr\">Well planning, procurement of long lead items and rig selection are underway, and the farmout process has been started with several parties registering interest. The Environmental and Social Impact Assessment (ESIA) has been delivered for the Ministry&#8217;s consideration.\u00a0 Follow up meetings have been held with the Ministry of Environment\u00a0to plan the second phase of public hearings which form part of the ESIA process.<\/span><span class=\"cr\">\u00a0<\/span><\/p>\n<p class=\"dr\"><span class=\"cs\">\u00b7\u00a0\u00a0\u00a0\u00a0<\/span><span class=\"cr\">New Age Letter of Intent.\u00a0\u00a0<\/span><span class=\"cr\">The LoI with New Age, which was originally announced on 5 February 2020, expired on 31 March 2021.\u00a0 In consultation with SNH, GDC and New Age agreed to let the LoI lapse and expedite discussions with SNH on the way forward on the project in line with the Gas Code of Cameroon and the Country&#8217;s Gas Master Plan.\u00a0 As part of the process, GDC has offered to offtake up to 25 MMscf\/d from Etinde, subject to a number of conditions.\u00a0 The whole project still remains conditional upon securing Final Investment Decision on the upstream project and award of an Independent Power Producer licence among other things.\u00a0 Recent public statements suggest that the Etinde partners are now likely to secure FID in 2022, before which they will need to renew their Exclusive Exploitation Agreement and seek approval for a revised development plan.<\/span><\/p>\n<p class=\"dl\"><span class=\"ch\">\u00b7\u00a0\u00a0\u00a0\u00a0<\/span><span class=\"cr\">RSM Litigation.\u00a0\u00a0<\/span><span class=\"cr\">An ICC Arbitration panel will hear the substantive matters raised by RSM (GDC&#8217;s joint venture partner in the Logbaba field), and\u00a0<\/span><span class=\"cr\">GDC&#8217;s counterclaims, in the third week of April (rescheduled from January). The UNCITRAL arbitration will be heard in\u00a0London\u00a0under Cameroon Law and is scheduled for hearing at the end of\u00a0September 2021.\u00a0 Arbitrations under ICC and UNCITRAL rules are confidential processes and \u00a0the Company is not permitted to provide detailed comments on them, beyond saying that the amounts of claims and counterclaims are material to the Company and that it continues to vigorously defend the claims raised by RSM. Our expectation is that each panel would take several months to deliberate and issue their rulings.<\/span><\/p>\n<p class=\"de\"><span class=\"dc\">Roy Kelly, Chief Executive<\/span><span class=\"ce\">\u00a0<\/span><span class=\"da\">of the Company, commented:<\/span><\/p>\n<p class=\"du\"><span class=\"cr\">&#8221; We are very pleased at the significant progress that we have made as a company over the course of the past few months on a number of corporate and operational fronts. The company now has a well stock of four wells at Logbaba, albeit with very different production characteristics. The operations team have done a great job managing the different wellhead pressures during the multi-well operations, and the higher water production.<\/span><\/p>\n<p class=\"du\"><span class=\"cr\">\u00a0<\/span><span class=\"cr\">In the Matanda license, we&#8217;re pleased with progress on the ranking of prospects and the start of the well planning phase. We have initial interest in the farmout of Matanda but there is of course a long way to go in that process.<\/span><\/p>\n<p class=\"dl\"><span class=\"da\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00b7\u00a0\u00a0\u00a0\u00a0Matanda.\u00a0\u00a0Well planning, procurement of long lead items and rig selection are underway, and the farmout process has been started with several parties registering interest. The Environmental and Social Impact Assessment &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-victoria-oil-gas-provides-matanda-logbaba-update\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":9408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,11,7444],"tags":[7982,7976,7977,1722,5712,9196],"class_list":["post-10153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-top-news","category-west-africa","tag-etinde","tag-logbaba","tag-matanda","tag-new-age","tag-uncitral","tag-victorial-oil-and-gas","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2DL","jetpack-related-posts":[{"id":9471,"url":"https:\/\/www.oilnewskenya.com\/index.php\/victoria-oil-gas-awarded-matanda-licence-extension\/","url_meta":{"origin":10153,"position":0},"title":"CAMEROON: Victoria Oil &#038; Gas Awarded Matanda Licence Extension","author":"","date":"November 24, 2020","format":false,"excerpt":"Victoria Oil & Gas Plc, has announced that its wholly owned subsidiary Gaz du Cameroun S.A. (\"GDC\") has received, as operator, approval from the Minister of Mines, Industry and Technological Development for the extension of the Matanda Block licence.\u00a0 The exploration phase of the licence has been extended by one\u2026","rel":"","context":"In &quot;Central Africa&quot;","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":11462,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-victoria-oil-gas-receives-one-year-extension-of-the-matanda-block-licence\/","url_meta":{"origin":10153,"position":1},"title":"CAMEROON: Victoria Oil &#038; Gas Receives One Year Extension of the Matanda Block licence","author":"","date":"December 24, 2021","format":false,"excerpt":"Victoria Oil & Gas has announced that its wholly owned subsidiary Gaz du Cameroun S.A. has received, as operator, approval from the Minister of Mines, Industry and Technological Development for the extension of the Matanda Block licence. The exploration phase of the licence has been extended by one year from\u00a017\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":8674,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-victoria-oil-gas-provides-q2-2020-operational-update\/","url_meta":{"origin":10153,"position":2},"title":"CAMEROON: Victoria Oil &#038; Gas Provides Q2 2020 Operational Update","author":"","date":"July 27, 2020","format":false,"excerpt":"\u00a0\u00b7\u00a0\u00a0\u00a0\u00a0The Company remains vigilant in relation to the Covid-19 pandemic and adherent to the authorities' guidelines in the jurisdictions in which it works: the lockdown in Cameroon was eased in May 2020, but a restrictive lockdown persists in the YaNAO region of the FSU where our West Medvezhye asset is\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Victoria-Oil-Gas-Plc.png?fit=235%2C215&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":9783,"url":"https:\/\/www.oilnewskenya.com\/index.php\/victoria-oil-gas-provides-q4-2020-operational-update\/","url_meta":{"origin":10153,"position":3},"title":"CAMEROON: Victoria Oil &#038; Gas Provides Q4 2020 Operational Update","author":"","date":"January 29, 2021","format":false,"excerpt":"SUMMARY\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0The Company remains vigilant in relation to the Covid-19 pandemic and adherent to the authorities' guidelines in the jurisdictions in which it works: the lockdown in\u00a0Cameroon\u00a0was eased in\u00a0May 2020 and we can conduct operations and projects pretty much as normal, but a restrictive lockdown persists in the YaNAO region\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":11750,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-victoria-oil-gas-provides-q4-2021-operational-update\/","url_meta":{"origin":10153,"position":4},"title":"CAMEROON: Victoria Oil &#038; Gas Provides Q4 2021 Operational Update","author":"","date":"February 2, 2022","format":false,"excerpt":"SUMMARY\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0Sales: Average daily gross gas sales rate for the quarter of 5.3 MMscf\/d (up 6.0% on Q3 21: 5.0 MMscf\/d) of natural gas, plus gross 5,584 bbls (Q3 21: 3,800 bbls) condensate was shipped to customers.\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0Logbaba Performance: The field has been meeting the demand using two of the\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":12272,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-victoria-oil-gas-provides-q1-2022-operational-corporate-update\/","url_meta":{"origin":10153,"position":5},"title":"CAMEROON: Victoria Oil &#038; Gas Provides Q1 2022 Operational &#038; Corporate Update","author":"","date":"May 20, 2022","format":false,"excerpt":"OPERATIONS SUMMARY\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0Sales: Average daily gross gas sales rate for the quarter was 5.5 MMscf\/d (up 4% on Q4 2021: 5.3 MMscf\/d), and a gross volume of 4,691 bbls (Q4 2021: 5,584 bbls) condensate was shipped to customers.\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0Logbaba Performance: The field has been meeting the demand using two of\u2026","rel":"","context":"In \"Cameroon\"","block_context":{"text":"Cameroon","link":"https:\/\/www.oilnewskenya.com\/index.php\/tag\/cameroon\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/10153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=10153"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/10153\/revisions"}],"predecessor-version":[{"id":10154,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/10153\/revisions\/10154"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/9408"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=10153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=10153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=10153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}