VAALCO advancing conceptual work for Venus offshore Equatorial Guinea
Aug. 12, 2021
VAALCO Energy has completed a feasibility study for a standalone development of the Venus discovery in block P offshore Equatorial Guinea.
(Courtesy VAALCO Energy)
Offshore staff
HOUSTON – VAALCO Energy has completed a feasibility study for a standalone development of the Venus discovery in block P offshore Equatorial Guinea.
The company, which will hold a 45.9% interest in the block once the Ministry of Mines and Hydrocarbons approves an amendment to the production sharing contract (PSC), is now turning its attention to a field development concept and plans to work on this with the other co-venturers over the next few months.
Block P’s PSC currently allows for a 25-year development and production period from the date of approval of a development/production plan.
