Yaounde, Cameroon Africa(Cameroon News) – Victoria Oil & Gas who owns the license for the Logbaba gas plant says that it would be

Oil and gas Plant

able to start its gas sales as per the proposed schedule.

Britain’s major oil company, Victoria Oil & Gas (VOG) said the first gas sale from its major project in Cameroon would take place exactly as per plans during the fourth quarter, and announced its economic forecast.

VOG now forecasts its proved and probable reserves from the Logbaba gas and condensate field in Douala, Cameroon, to amount to around $406 million.

The company, which functions in Africa, Kazakhstan and Russia, said its total Logbaba resources, which also comprises of likely and prospective resources, were estimated at around $1,164 million.

Logbaba has proven and probable reserves of 212 billion cubic feet of gas and the company anticipate gas sales of 8 million standard cubic feet per day (mmscf/d) in the first year of operations.

VOG during the previous year had got together investment for the expansion stage of the Logbaba project.

Share price of the company closed at 4.24 pence on Friday on the London Stock Exchange.