Vessels

FSO in place and receiving oil at Etame Field offshore Gabon

Oct. 19, 2022

VAALCO Energy Inc. has completed installation of the converted Teli floating storage and offloading (FSO) unit at the Etame Field offshore Gabon, with first oil delivered to the vessel.

VAALCO Energy’s focus is on the existing West Africa asset base and acreage positions. It plans to fully exploit the potential and expand its West Africa footprint. The company also continues to pursue selective corporate and/or producing property acquisitions with exploration upside.

Offshore staff

HOUSTON — VAALCO Energy Inc. has completed installation of the converted Teli floating storage and offloading (FSO) unit at the Etame Field offshore Gabon, with first oil delivered to the vessel.

In parallel, work has finished on the associated field reconfiguration, including all diving, subsea connections, subsea infrastructure, pipeline tie-ins, pressure testing and the new riser connections to the FSO.

VAALCO CEO George Maxwell said, “The new FSO provides us with additional flexibility and has an effective capacity for storage that is 50% larger than our relinquished FPSO.

“It also reduces our expected storage and offloading costs by 50%, which should lead to an extension of the economic field life, resulting in a corresponding increase in recovery and reserves at Etame.”

10.19.2022