Victoria Oil and Gas has announced that its revenues have increased as production from the Logbaba gas field in Cameroon commences.

According to the company, earnings for November 2015 were $18.9 million from $11.6million in November 2014. Adjusted incomes were $9million from $1.7million the previous year.

The quantity of gas sold by the company rose to 8.85 Mmcf/d from 3.91mln as two new gas-fired power stations began operation and new industrial users registered.

“This confirms that our fully integrated gas utility business in Cameroon works well and has helped insulate us from low oil prices and extremely challenging markets,” Kevin Foo, Executive chairman of Victoria said.

He added that the company plans to utilize these gains to boost production and earnings in Cameroon and in another place in Africa.

This year, Victoria Oil targets a 30% increase in supply and drill two more wells, Energy Voice reports.

Anita Fatunji