VAALCO preparing for next-phase drilling offshore Gabon

March 10, 2021
VAALCO has issued an update on its E&P activities in the Etame Marin block offshore Gabon.

Offshore staff

HOUSTON – VAALCO has issued an update on its E&P activities in the Etame Marin block offshore Gabon.

During 4Q 2020, operations finished on a new 3D seismic survey that compiled close to 1,000 sq km (386 sq mi) of dual-azimuth data across the entire block.

VAALCO will use the results, due later this year, to optimize and de-risk future drilling locations and potentially identify new drilling targets.

The next drilling campaign at Etame will start in late 2021 or early 2022: current plans call for two development wells and two appraisal wells, which at peak could deliver a combined 7,000-8,000 b/d of extra production.

Estimated cost of the program is $115-$125 million ($73-$79 million net) to VAALCO.

03/10/2021