In reality, Gaz du Cameroun (GDC), the operational subsidiary responsible for the exploitation and distribution of natural gas from the Logbaba field, is now operating under the direction of Cameroon Holdings Limited (CHL).


 Officially sanctioned by the judicial administrators of the Victoria Oil & Gas (VOG) group, this global transfer, finalized last summer, settles the administration procedure undergone by the parent company, effecting the full transmission of shares held in the Bramlin Limited structure. This shareholder reconfiguration puts an end to a period of uncertainty for the operator, whose industrial activity continuity remains strategic for the manufacturing fabric of Cameroon's economic capital.


Concluded for a total amount of 470,000 pounds sterling, or approximately 356 million FCFA, the acquisition protocol encompasses not only the equity stakes but also integrates the transfer of substantial receivables accumulated over past fiscal years. While the valuation firms mandated had initially assigned a symbolic value to the shares themselves due to operating costs and future investment imperatives, the operation has allowed for the clearing of financial commitments while securing the full settlement of agreed-upon obligations between the parties involved.


This transition finds its roots in the history of financing provided by CHL since the launch of the Logbaba drilling operations at the end of the preceding decade. Having become, through litigation and international arbitrations, the main secured creditor of VOG, the acquiring structure thus converts its predominant position into direct capital control. While the judicial administration procedure continues internationally until February 2027 to settle the last residual disputes, this takeover opens a new chapter for the exploitation of natural gas in Cameroon.


Bernardo

Tags: gaz naturel logbaba cameroon holdings limited cameroun exploitation gazière cession d'actifs administration judiciaire victoria oil gas energie cameroun investissement étranger