Offshore staff
HOUSTON – VAALCO Energy expects Borr Jack-Up XIV Inc. to spud the Etame 8H-ST well on the Etame field offshore Gabon next month.
This is the first of four development wells the rig is contracted to drill, with options for further wells.
VAALCO’s target is to increase the field’s oil production by 7,000-8,000 b/d. It estimates the cost of the campaign at $117-143 million.
Last December, a 1,000-sq km (386-sq mi) dual-azimuth 3D seismic survey concluded over the Etame Marin block, and results are helping to optimize the drilling locations.
In addition, the company is using the data to de-risk planned and potential future drilling locations.
At block P offshore Equatorial Guinea, VAALCO has completed a feasibility study of a standalone production development for the Venus discovery, and will now work on a field development concept with the other partners.
The production-sharing contract covers a 25-year period from the date of approval of a development/production plan.
11/04/2021
