{"id":10670,"date":"2021-08-04T11:20:40","date_gmt":"2021-08-04T11:20:40","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=10670"},"modified":"2021-08-04T11:20:40","modified_gmt":"2021-08-04T11:20:40","slug":"cameroon-victoria-oil-and-gas-provides-q2-2021-operational-update","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-victoria-oil-and-gas-provides-q2-2021-operational-update\/","title":{"rendered":"CAMEROON: Victoria Oil and Gas Provides Q2 2021 operational update"},"content":{"rendered":"<p class=\"ee\"><span class=\"dr\">\u00b7<strong>\u00a0<\/strong><\/span><strong><span class=\"dw\">Sales<\/span>\u00a0<\/strong><span class=\"dw\"><strong>:<\/strong> Average daily gross gas sales rate for the quarter of 5.4 MMscf\/d (Q1 21: 5.2 MMscf\/d) of natural gas, plus gross 4,468 bbls (Q1 21: 5,357 bbls) condensate was shipped to customers.<\/span><\/p>\n<p class=\"ef\"><span class=\"dw\">\u00a0<\/span><span class=\"dr\">\u00b7\u00a0<\/span><strong><span class=\"dw\">La-108 Performance<\/span><\/strong><span class=\"dw\">: The well produced a cumulative 0.467 Bcf before it was shut-in to allow us to perform a pressure build up (&#8220;PBU&#8221;).\u00a0 The other wells are able to satisfy current demand.<\/span><\/p>\n<p class=\"k\"><span class=\"dw\">\u00a0<\/span><strong><span class=\"do\">\u00b7\u00a0<\/span><span class=\"dw\">Matanda<\/span><\/strong><span class=\"du\">: Well planning continues and tendering for long lead items and key equipment and services has commenced.<\/span><span class=\"dw\">\u00a0<\/span><\/p>\n<p class=\"ea\"><span class=\"dy\">Roy Kelly, Chief Executive<\/span>\u00a0<span class=\"dl\">\u00a0<\/span>\u00a0<span class=\"dw\">of Victoria Oil &amp; Gas, commented<\/span>\u00a0<span class=\"dw\">:<\/span><\/p>\n<p class=\"ej\"><span class=\"dy\">&#8220;We are very pleased that the team has delivered another solid quarter during which some customers increased organic demand, although we are conscious that we are now heading into August which is usually a slower month. Operationally, I am delighted to report that in June GDC passed one million man-hours without a single Lost Time Incident, a credit to all the staff and contractors.<\/span><span class=\"dy\">\u00a0<\/span><\/p>\n<p class=\"ej\"><span class=\"dy\">We are considering adding perforations to well La-108, more than doubling the net pay, and this is being discussed with partners. Such is the depth and pressure difference between the top and bottom of the reservoir that perforating must be done in two stages. Adding perforations could increase the well&#8217;s productivity, reduce the overall water cut and of course allow us to access all of the well&#8217;s connected gas volumes.<\/span><\/p>\n<p class=\"er\"><strong><span class=\"es\">La-108 Performance<\/span><\/strong><\/p>\n<p class=\"et\"><span class=\"eu\">Together with the volumes produced during testing last year, the well has produced a cumulative 0.467 Bcf to date (over 111 days), and it had been supplying the majority of the gas produced whilst it was on production. La-108 was shut in on 6 June, the other wells meeting the needs of the customers, enabling us to carry out a long-term PBU, which will allow us to learn more about the reservoir system that it has been producing from.<\/span><\/p>\n<p class=\"et\"><strong><span class=\"dw\">MATANDA UPDATE<\/span><\/strong><span class=\"dw\">\u00a0<\/span><\/p>\n<p class=\"ev\"><span class=\"du\">In addition to progressing the well planning of our first well in the Matanda licence, we have presented the farmout opportunity to a number of parties who continue their evaluations.<\/span><span class=\"du\">\u00a0<\/span><\/p>\n<p class=\"ew\"><strong><span class=\"dw\">WEST MED UPDATE<\/span><\/strong><span class=\"dw\">\u00a0<\/span><\/p>\n<p class=\"ev\"><span class=\"du\">A period of exclusivity with a potential buyer expired at the end of May 2021, and we continue discussions with that counterparty though we have not renewed the exclusivity at this time as we are engaged with other parties who have expressed an interest.<\/span><span class=\"dw\">\u00a0<\/span><\/p>\n<p class=\"ew\"><strong><span class=\"dw\">LITIGATION UPDATE<\/span><\/strong><\/p>\n<p class=\"ey\"><span class=\"dh\">The arbitration in Texas, USA under ICC rules (initiated in October 2018) was heard at the end of April, and we await the Panel&#8217;s findings, likely to be announced in August or September.<\/span><\/p>\n<p class=\"ez\"><span class=\"dh\">The arbitration in London under UNCITRAL rules (initiated in February 2020) will be heard at the end of September.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00b7\u00a0Sales\u00a0: Average daily gross gas sales rate for the quarter of 5.4 MMscf\/d (Q1 21: 5.2 MMscf\/d) of natural gas, plus gross 4,468 bbls (Q1 21: 5,357 bbls) condensate was &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-victoria-oil-and-gas-provides-q2-2021-operational-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":[8648,9370,8649,9330],"class_list":["post-10670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-top-news","category-west-africa","tag-la-108","tag-matanda-licence","tag-victoria-oil-and-gas","tag-west-med","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-2M6","jetpack-related-posts":[{"id":11750,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-victoria-oil-gas-provides-q4-2021-operational-update\/","url_meta":{"origin":10670,"position":0},"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":10670,"position":1},"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":[]},{"id":8674,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-victoria-oil-gas-provides-q2-2020-operational-update\/","url_meta":{"origin":10670,"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":10670,"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":10153,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-victoria-oil-gas-provides-matanda-logbaba-update\/","url_meta":{"origin":10670,"position":4},"title":"CAMEROON: Victoria Oil &#038; Gas Provides Matanda, Logbaba Update","author":"","date":"April 1, 2021","format":false,"excerpt":"\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 (ESIA) has been delivered for the Ministry's consideration.\u00a0 Follow up meetings have been held with the Ministry of Environment\u00a0to plan\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":9471,"url":"https:\/\/www.oilnewskenya.com\/index.php\/victoria-oil-gas-awarded-matanda-licence-extension\/","url_meta":{"origin":10670,"position":5},"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":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/10670","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=10670"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/10670\/revisions"}],"predecessor-version":[{"id":10671,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/10670\/revisions\/10671"}],"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=10670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=10670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=10670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}