We now know a bit about the level of investment made by the British oil and gas operator Victoria Oil & Gas (VOG), on its project to distribute gas to companies, from the Logbaba field in the Suburb of Douala, the economic capital of Cameroon.
Indeed, in a recent address to investors, Ahmet Dik, the CEO of VOG, who controls Gaz du Cameroun (GDC), a company operating on the gas field of Logbaba, revealed investments already made, amounting to $250 million i.e about 144 billion CFA francs.
“The Government of Cameroon has supported and set the conditions under which GDC has been able to operate and invest more than US $ 250 million and has encouraged new investors to establish their businesses in Douala,” said Ahmet Dik.
As a reminder, thanks to the construction of a natural gas processing plant in Logbaba, and a pipeline network that is today more than 20 kilometers long, GDC supplies natural gas to some 20 enterprises of the Economic capital of Cameroon. They have thus been able to get rid of dependence on electricity, which is both more expensive and scarce, due to the recurring load shedding.