Gaz du Cameroun SA (GDC), a wholly owned subsidiary of Victoria Oil & Gas PLC, will drill an exploration well in Matanda block after receiving a 1-year license extension from Cameroon’s Minister of Mines, Industry and Technological Development. The extension begins Dec. 17.
The 1,235-sq km block, containing North Matanda field, contains the Gulf of Guinea and is adjacent to GDC's Logbaba concession. It covers both onshore and offshore portions of Douala basin. The company will finalize ranking of significant onshore prospects as part of the license extension.
In July, the company reported an increase in gross unrisked, mean prospective resources to 1.196 tcf in the onshore portion of Matanda from 903 bcf. The increase was the result of a detailed internal prospect evaluation which identified 19 gas prospects in shallower Tertiary-aged reservoirs, plus 7 prospects in deeper, Cretaceous-aged prospects. The larger of these prospects has mean unrisked prospective resources of over 65 bcf, with geological chance of success estimated at better than 40%, the company said.
An environmental and social impact assessment is scheduled for completion in first-quarter 2021 ahead of drilling preparation.
GDC is operator of the Matanda PSC with 75% interest (OGJ Online, Feb. 18, 2016). Afex Global Ltd. holds the remaining 25%. Société Nationale Des Hydrocarbures has a 25% back in right after an exploitation license is granted.