Sector News

Victoria Oil & Gas appoints Group CEO

June 23, 2016

Victoria Oil & Gas Plc, the integrated natural gas producing utility, today announces that Ahmet Dik has been appointed as Group CEO.

Mr Dik is an existing member of the Board and preceding today’s appointment held the position of Chief Executive Officer for the Company’s wholly owned Cameroon subsidiary Gaz du Cameroun S.A (“GDC”).

Mr Dik has been instrumental in developing both the VOG and GDC businesses. In 2014 he led the team to secure the ENEO grid power supply contract and in the past 7 months, as Chief Executive Officer of GDC, has presided over significant growth in gas sales, securing of a local debt instrument, the assignment of the 1,235km2 Matanda block to VOG and the design and planning phase of the 2016 drilling programme.

Following the gas sales growth in Cameroon over the previous 18 months, VOG is positioning itself to develop its integrated gas supply network through an extensive expansion programme. New thermal markets are being reached by the ongoing network expansion on the Bonabari shore and two new gas wells at Logbaba are scheduled to begin drilling soon. Subject to satisfactory well test results, a plant expansion programme will also be completed. The Matanda block assignment, completed during Q2 2016, also provides the Company with a significant onshore block, adjacent to current operations that can be developed for future gas supply.

Kevin Foo, Chairman, said: “Ahmet’s appointment as Group CEO follows a sustained period of operational delivery from the Company, as we build a substantial gas business in Cameroon. Ahmet has been instrumental in that growth over the last three years and now he will lead us as we expand further in Cameroon and elsewhere within Africa.”

Ahmet Dik, CEO, said: “I am delighted with my appointment as VOG CEO as our Company moves into the next growth phase. What we have achieved in terms of monetising gas supply in Cameroon and delivering it to a domestic market has been remarkable. We shall continue to focus on maintaining reliability, consistency and quality of product. We intend to increase our gas reserves and production supply to meet the large demand for cheaper, clean and convenient energy in Cameroon.”

Source: Victoria Oil & Gas

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