VAALCO reported offshore Gabon production at the high end of the third-quarter guidance range and only down 2% sequentially, despite no drilling campaign in 2023.. The company achieved ~97% production uptime YTD 2023.
Courtesy VAALCO
Offshore staff
HOUSTON — VAALCO Energy is reviewing locations for its next planned drilling campaign around the Etame Field offshore Gabon, the company said in a results update.
Production performance in the period to Sept. 30 was strong, supported by improved operational uptime. The newly installed FSO has reduced opex costs at Etame. However, marine costs have risen due to inflation arising from supply vessel rates, transportation and contractors, along with higher diesel costs with the feed gas line being temporarily suspended due to a leak.
This was fixed in October, and the FSO is now using gas rather than diesel.
