Cameroon: VOG takes over Glencore’s Matanda stake

Victoria Oil & Gas (VOG) has agreed to acquire Glencore’s operated stake in the Matanda Block, adjacent to its Logbaba permit. The block includes the North Matanda gas field. VOG said on 18 February it would acquire Glencore Exploration Cameroon’s 75% interest in the Matanda production-sharing contract and take over the operatorship via its subsidiary Gaz du Cameroun (GDC) Matanda. In exchange, VOG will take over responsibility for a work programme to be agreed with the government. The assignment of the stake is conditional on this being agreed, and on other customary government approvals.