Bomono: Between 146 and 263 bcf Gas for Exploitation

Regions

Yaboa Ndula MUNTEH | 22-03-2017 21:11

 A press release on a farm-out agreement between Bowleven and Victoria Oil and Gas was signed recently.

Bomono, a locality in the Moungo Division has been proved to contain between 146 and 263 billion cubic feet (bcf) gas. According to a farm-out agreement between Bowleven; an Africa focused oil and gas exploration group (represented in Cameroon by EurOil) and the Victoria Oil and Gas plc (represented in Cameroon by Gaz du Cameroon, GDC), the onshore exploration in Bomono, Bowleven is project operator. The press release that sanctioned the signing ceremony also stipulated that upon project completion, EurOil; Bowleven subsidiary will have 20 per cent working interest in the Bomono PSC while GDC; Victoria Oil and Gas Plc subsidiary will have 80 per cent. In addition, the drilled gas from Bomono PSC will be sold to GDC less a tolling fee and the pipeline connection from the Bomono PSC to the main network will be managed and funded by GDC, among other farm out highlights.

The gas according to the press release will supply the growing domestic market in and around Douala. Given that Douala is an industrial zone, many companies rely on gas to power their plants. GDC supply gas to over 30 companies in Douala including brewery industries.
During the signing, the Chief executive officer of Victoria Oil and Gas plc, Ahmet Dik, said it is a mutual benefit deal.

“The deal provides an additional 2,327 square kilometre of onshore license area and early production potential from the Moambe well that will help meet the expanding gas market in Douala,” he added. Victoria Oil and Gas’s commitment to build and expand further Cameroon gas infrastructure, the CEO continue, “is being cemented and we are grateful for the support from SNH and the government with our continued contribution to the growth of the Cameroon economy,” he mentioned. On his part, the CEO of Bowleven, Kevin Hart, they look forward to working with Victoria Oil and Gas and the Cameroon authorities to realise the maximum potential the asset has to offer. 

The connection of some 9.5 km pipeline from the Moambe well to Bomono will employ young Cameroonians while the exploration of the site will not only develop business in the area, but will bring development since the GDC will carry out some corporate social responsibilities like the construction of bridges, classroom as well as the extension of potable water in the area.