Offshore staff
EDINBURGH, UK – Bowleven has confirmed the signing of a non-binding letter of intent (LOI) between Victoria Oil & Gas and New Age for the supply of gas from the Etinde field development offshore Cameroon.
The two parties will now seek to enter into a gas supply agreement (GSA).
Under the terms of the LOI New Age will supply processed gas to VOG subsidiary Gaz du Cameroun (GDC), at Limbe, for onward transportation to the capital Douala.
The GSA would likely apply for 20 years, with New Age supplying a minimum of 25 MMcf/d to GDC over the first three years, increasing to a minimum of 30 MMcf/d.
Full agreement on the terms and conditions is directly linked to the partners taking a final investment decision on the Etinde project.
Bowleven CEO Eli Chahin said: “The agreement is also positive for Cameroon, as it will see gas delivered to independent power suppliers in the country…”
02/05/2020
