4th Feb 2014 11:30
LONDON (Alliance News) - Victoria Oil & Gas PLC Tuesday said its subsidiary Gaz du Cameroun has completed a new thermal gas connection with glass manufacturer SOCAVER, a subsidiary of South African Brewing Company Pty Ltd.
The oil and gas exploration and development company said the SOCAVER plant is now substantially online and is expected to consume an average of 400,000 square cubic feet per day running 24 hours per day with peak demand estimated at 764,000 square cubic feet per day.
The connection supplies thermal gas for up to six burners to SOCAVER, following SOCAVER's recent conversion to gas from heavy fuel oil, a process which Gaz du Cameroun took part in.
Victoria Oil & Gas did not announce the financial aspects of the offtake agreement.
The deal represents the twentieth thermal gas connection made by Gaz du Cameroun since commercial operations began in November 2013.
South African Brewing Company is a major drinks and beverage manufacturer in Cameroon.
Victoria Oil & Gas shares were up 0.9% to 1.32 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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