(Ecofin Agency) - Victoria Oil and Gas in its operational update and interim results on its asset in Cameroon, announced that it enjoyed a 93% increase in per day production in H1 of 2016 while its sales also increased by 50%.

The Africa-focused company achieved a major breakthrough the same period when the initial explorations costs of the Logbaba onshore gas project in Cameroon were recovered.

According to Victoria Oil, preparations for the commencement of drilling operations on the site have been completed and the phase 2 of the expansion work on the Bonaberi pipeline to link new thermal clients is in progress.

“The first half of 2016 has been a stabilizing period in the company, as we deliver on our strategy to increase production and grow our pipeline network in Douala, Cameroon. Our market assessment indicates a growing demand for our gas, for both thermal and grid power markets. The preparation for drilling at our existing Logbaba production site is complete, and drilling is expected shortly. Expansion work on the Bonaberi pipeline is on track, and with gas sales agreements in place, we expect to deliver to these new customers before the end of the year,” Kevin Foo, Victoria Oil and Gas’ chairman told Energy Voice.

He added that the company is looking to “increase processing plant’s capacity as we deliver on our expansion targets.The settlement of the reserve bonus and termination of the 1.2% royalty was an important matter to resolve and will mean greater revenue for the Company going forward,”

Anita Fatunji