SUBSCRIBE
PROFILE

VAALCO Energy secures a platform for its 2025/2026 drilling campaign in Gabon

VAALCO Energy announces a contract with Borr Drilling to carry out multiple offshore drilling and maintenance operations in Gabon starting mid-2025. This initiative aims to boost production and reserves as part of its organic growth strategy.

Share:

Gain full professional access to energynews.pro from 4.90€/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90€/month*

No commitment – cancel anytime, activation in 2 minutes.

START NOW — 4.90€/month

*Special launch offer: 1st month at the indicated price, then 14.90 €/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99€/year*

To access all of energynews.pro without any limits

SUBSCRIBE — 99€/year

*Introductory annual price for year one, automatically renewed at 149.00 €/year from the second year.

Sign up for free to unlock this article

VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY), a company specializing in fossil fuels, announced the signing of a contract with Borr Jack-Up XIV Inc., a subsidiary of Borr Drilling Limited. This agreement is part of the 2025/2026 drilling program planned in Gabon to further develop its offshore assets in the region.

The project will include the drilling of multiple development wells, as well as assessments and explorations. It will also involve maintenance operations such as workovers, with options to drill additional wells. The primary goal is to enhance production and reintegrate reserves previously inaccessible due to the presence of hydrogen sulfide (Hâ‚‚S).

Planning and Objectives of the Program

According to George Maxwell, CEO of VAALCO, operations are expected to begin in mid-2025. Initial activities will focus on the Etame field, the SEENT platform, and the Ebouri area. In Ebouri, a redrill and workovers on inactive wells will be conducted to restore production and recover reserves that were previously excluded.

The Etame field, a cornerstone of VAALCO’s offshore operations, remains central to development plans. The integration of new technologies and strategic partnerships with co-owners aims to optimize activities in this crucial area.

Strategic Context and Prospects

Over the past three years, VAALCO has implemented a growth-oriented strategy focused on diversification and portfolio optimization. This new drilling campaign, supported by the partnership with Borr Drilling, underscores the ambition to enhance profitability while capitalizing on opportunities offered by existing assets.

In addition to production goals, the project marks a milestone in collaboration with shared infrastructure owners. This synergy is expected to deliver significant results, strengthening VAALCO’s position in the African energy market.

  • Popular on energynews.pro
Fifth sanctioned Russian LNG carrier docks at Beihai terminal in China
$5.6bn battery plant to be built in Morocco still reliant on coal power
QatarEnergy awards Samsung contract for 2,000 MW solar plant in Dukhan
Syrian tanker docks in Trieste, first crude delivery in 14 years
EQT signs 20-year deal for 1 Mtpa LNG with Commonwealth LNG
Oil and gas to remain dominant in global energy mix through 2050
Faced with rising global electricity demand, energy sector leaders are backing an "all-of-the-above" strategy, with oil and gas still expected to supply 50% of global needs by 2050.
UK sanctions 70 tankers to reinforce Russian oil price cap
London has expanded its sanctions against Russia by blacklisting 70 new tankers, striking at the core of Moscow's energy exports and budget revenues.
Iraq and Oman in talks to build new oil pipeline to secure exports to Asia
Iraq is negotiating with Oman to build a pipeline linking Basrah to Omani shores to reduce its dependence on the Strait of Hormuz and stabilise crude exports to Asia.
Vallourec signs $1bn contract with Petrobras for Brazilian offshore operations
French steel tube manufacturer Vallourec has secured a strategic agreement with Petrobras, covering complete offshore well solutions from 2026 to 2029.
IEA warns of 3.3 million barrel oil surplus in 2026
Increased output from Opec+ and non-member producers is expected to create a global oil surplus as early as 2025, putting pressure on crude prices, according to the International Energy Agency.
Petrobras takes 27.5% stake in Block 4 offshore São Tomé with Shell and Galp
The Brazilian company expands its African footprint with a new offshore exploration stake, partnering with Shell and Galp to develop São Tomé and Príncipe’s Block 4.
Drone strikes major Bachneft refinery in Ufa, fire breaks out
A drone attack on a Bachneft oil facility in Ufa sparked a fire with no casualties, temporarily disrupting activity at one of Russia’s largest refineries.
Transatlantic rift over Russian oil reduces Indian volumes in October
The divide between the United States and the European Union over regulations on Russian oil exports to India is causing a drop in scheduled deliveries, as negotiation margins tighten between buyers and sellers.
US crude oil stocks rise by 3.9 million barrels
Against market expectations, US commercial crude reserves surged due to a sharp drop in exports, only slightly affecting international prices.
Russia increases oil exports from western ports by 11% in September
Russia plans to ship 2.1 million barrels per day from its western ports in September, revising exports upward amid lower domestic demand following drone attacks on key refineries.
QatarEnergy secures offshore exploration licence in Congo
QatarEnergy obtained a 35% stake in the Nzombo block, located in deep waters off Congo, under a production sharing contract signed with the Congolese government.
Phillips 66 takes full control of two US refineries for $1.4bn
Phillips 66 acquires Cenovus Energy’s remaining 50% in WRB Refining, strengthening its US market position with two major sites totalling 495,000 barrels per day.
Union strike threatens fuel deliveries from Dangote refinery
Nigeria’s two main oil unions have halted loadings at the Dangote refinery, contesting the rollout of a private logistics fleet that could reshape the sector’s balance.
ReconAfrica secures offshore block in Gabon with production sharing contract
Reconnaissance Energy Africa Ltd. enters Gabonese offshore with a strategic contract on the Ngulu block, expanding its portfolio with immediate production potential and long-term development opportunities.
BW Energy raises $365mn for Maromba FPSO and secures drilling rig
BW Energy has finalised a $365mn financing for the conversion of the Maromba FPSO offshore Brazil and signed a short-term lease for a drilling rig with Minsheng Financial Leasing.
Vantage Drilling signs 260-day contract for the Platinum Explorer
Vantage Drilling has finalised a major commercial agreement for the deployment of the Platinum Explorer, with a 260-day offshore mission starting in Q1 2026.
Permex signs agreement for potential $25mn funding with Chisos
Permex Petroleum has signed a non-binding memorandum of understanding with Chisos Ltd. for potential funding of up to $25mn to develop its oil assets in the Permian Basin.
OPEC+ approves 137,000 barrels/day increase starting in October
OPEC+ begins a new phase of gradual production increases, starting to lift 1.65 million barrels/day of voluntary cuts after the early conclusion of a 2.2 million barrels/day phaseout.
Imperial Petroleum invests in seven vessels despite a 22.8% drop in revenue
Imperial Petroleum expanded its fleet to 19 vessels in the second quarter of 2025, while reporting a decline in revenue due to lower rates in the maritime oil market.
OPEC+ prepares for decisive debate on quotas amid surplus risk
Eight OPEC+ members will meet to adjust their quotas as forecasts point to a global surplus of 3 million barrels per day by year-end.

Log in to read this article

You'll also have access to a selection of our best content.