Connection

popular articles

Fortum: Nuclear investments deemed unprofitable at current prices
RWE and TotalEnergies win 4 GW of wind power capacity in the North Sea
Edison and Blunova join forces for a floating offshore wind farm in Sicily
Sweden: Green light for Mareld 2.5 GW floating wind farm
France: A town heats with miscanthus, an eco-friendly plant

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.

Please share:

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 (H₂S).

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.

Register free of charge for uninterrupted access.

Publicite

Latest news

SSE unveils £22 billion investment plan for strategic energy infrastructure
Voltalia sells a 12 MW wind farm in Charente to CNR
ENCAVIS acquires two ready-to-build solar projects in northern Italy
Agreement Signed to Develop the First 102 MW Wind Farm in Khanh Hoa Province
Geothermal Energy: A Strategic EU Response to the Energy Crisis

Recently published in

Angola: A New Law to Revitalize Aging Oil Production

Angola adopts legislation to revitalize its mature oil fields. The goal: stabilize production above one million barrels per day through fiscal incentives and strategic investments.
Congo: The SNPC launches a drilling campaign to boost oil production
The Société Nationale des Pétroles du Congo (SNPC) is initiating a strategic drilling campaign across several key blocks, aiming to strengthen crude oil production and reach 500,000 barrels per day by 2029.
en_1140802540
Congo: The SNPC launches a drilling campaign to boost oil production
The Société Nationale des Pétroles du Congo (SNPC) is initiating a strategic drilling campaign across several key blocks, aiming to strengthen crude oil production and reach 500,000 barrels per day by 2029.
en_1140802540
Fall of the Assad Regime: Limited Impacts on the Global Oil Market
The fall of Bashar al-Assad's regime in Syria marks a regional political shift, but its impact on the oil market remains minimal due to the country’s drastically reduced production and exports since 2011.
en_1140764540
Fall of the Assad Regime: Limited Impacts on the Global Oil Market
The fall of Bashar al-Assad's regime in Syria marks a regional political shift, but its impact on the oil market remains minimal due to the country’s drastically reduced production and exports since 2011.
en_1140764540
Shell and Equinor merge their UK assets in the North Sea
Shell and Equinor announce a strategic merger of their UK assets in the North Sea, creating the region's largest independent producer. This operation faces economic challenges and environmental criticism.
en_1140767540
Shell and Equinor merge their UK assets in the North Sea
Shell and Equinor announce a strategic merger of their UK assets in the North Sea, creating the region's largest independent producer. This operation faces economic challenges and environmental criticism.
en_1140767540

Iran: The energy crisis deepens as oil production declines

Under the weight of Western sanctions, Iran is facing a severe energy crisis. Oil production continues to decline, jeopardizing exports and increasing domestic resource tensions.
Indonesia: Six New Oil and Gas Blocks Offered in 2024
Indonesia launches its second oil and gas bidding round of the year, featuring six onshore and offshore blocks with a combined potential of 48 billion barrels of oil equivalent. A major opportunity for international energy investors.
en_1140716540
Indonesia: Six New Oil and Gas Blocks Offered in 2024
Indonesia launches its second oil and gas bidding round of the year, featuring six onshore and offshore blocks with a combined potential of 48 billion barrels of oil equivalent. A major opportunity for international energy investors.
en_1140716540
Savannah Energy resumes negotiations for Petronas’ oil assets in South Sudan
Despite initial obstacles, Savannah Energy persists in its attempt to acquire Petronas' oil assets in South Sudan, exploring alternative options to finalize a beneficial agreement.
en_1140752540
Savannah Energy resumes negotiations for Petronas’ oil assets in South Sudan
Despite initial obstacles, Savannah Energy persists in its attempt to acquire Petronas' oil assets in South Sudan, exploring alternative options to finalize a beneficial agreement.
en_1140752540
Washington tightens sanctions against Iran’s “ghost fleet” of oil tankers
The United States has imposed new sanctions on 35 Iranian ships accused of clandestinely exporting oil, aiming to curb revenues financing Tehran's nuclear program and regional activities.
en_1140720540
Washington tightens sanctions against Iran’s “ghost fleet” of oil tankers
The United States has imposed new sanctions on 35 Iranian ships accused of clandestinely exporting oil, aiming to curb revenues financing Tehran's nuclear program and regional activities.
en_1140720540

Refineries Boost U.S. Oil Activity Despite Stockpile Decline

U.S. refineries hit record activity levels, driving an unexpected drop in crude oil stocks, while national production reaches 13.51 million barrels per day.
McDermott secures a strategic FEED contract with Repsol in Mexico
McDermott secures a strategic FEED contract with Repsol in Mexico
en_1140726540
McDermott secures a strategic FEED contract with Repsol in Mexico
McDermott secures a strategic FEED contract with Repsol in Mexico
en_1140726540
OPEC+ Extends Oil Cuts Until 2025 to Stabilize Prices
Despite internal disagreements, OPEC+ decided to maintain its production cuts until March 2025, extending their gradual removal to avoid a price drop in an uncertain market environment.
en_1140755540
OPEC+ Extends Oil Cuts Until 2025 to Stabilize Prices
Despite internal disagreements, OPEC+ decided to maintain its production cuts until March 2025, extending their gradual removal to avoid a price drop in an uncertain market environment.
en_1140755540
Ghana: Springfield Validates the Potential of Offshore Well Afina-1x
Ghana: Springfield Validates the Potential of Offshore Well Afina-1x
en_1140698540
Ghana: Springfield Validates the Potential of Offshore Well Afina-1x
Ghana: Springfield Validates the Potential of Offshore Well Afina-1x
en_1140698540

CNOOC Launches the Jinzhou 23-2 Oil Project in the Bohai Sea

CNOOC Limited inaugurates its Jinzhou 23-2 oil project, the first Chinese offshore heavy oil thermal recovery initiative, targeting peak production of 17,000 barrels of oil equivalent per day by 2027.
Saudi Arabia Considers Oil Price Cuts for Asia
Saudi Arabia may lower its oil prices for Asian markets in January, a potential strategy to respond to weak demand and growing regional competition. A decision still pending confirmation.
en_1140683540
Saudi Arabia Considers Oil Price Cuts for Asia
Saudi Arabia may lower its oil prices for Asian markets in January, a potential strategy to respond to weak demand and growing regional competition. A decision still pending confirmation.
en_1140683540
CNOOC launches Huizhou 26-6 oil project
The Huizhou 26-6 project in southern China marks a milestone with smart platform technology and ambitious production goals.
en_1140687540
CNOOC launches Huizhou 26-6 oil project
The Huizhou 26-6 project in southern China marks a milestone with smart platform technology and ambitious production goals.
en_1140687540
PetroTal acquires Block 131 in Peru to diversify its production
PetroTal finalizes the purchase of Block 131, including all assets of CEPSA Peruana. This strategic acquisition aims to strengthen the company's production and reserves in Peru.
en_1140681540
PetroTal acquires Block 131 in Peru to diversify its production
PetroTal finalizes the purchase of Block 131, including all assets of CEPSA Peruana. This strategic acquisition aims to strengthen the company's production and reserves in Peru.
en_1140681540

HSFO Margins Narrow in Singapore Despite Stable Supply

HSFO premiums in Singapore fall in December as geopolitical tensions and limited demand from Chinese refineries signal persistent volatility in marine fuel markets.
The United States Outpaces Russia in Diesel Deliveries to Brazil This Week
For the week ending December 8, the United States is expected to become Brazil’s leading diesel supplier, delivering 6% more than Russia, according to preliminary data from S&P Global.
en_1140655540
The United States Outpaces Russia in Diesel Deliveries to Brazil This Week
For the week ending December 8, the United States is expected to become Brazil’s leading diesel supplier, delivering 6% more than Russia, according to preliminary data from S&P Global.
en_1140655540
Iranian Oil Exports Surge, Weakening Demand for Conventional Tankers
The unexpected growth in Iranian oil exports, combined with slowing Chinese demand, disrupts the global tanker market as sanctioned fleets capture a growing share of maritime trade.
en_1140644540
Iranian Oil Exports Surge, Weakening Demand for Conventional Tankers
The unexpected growth in Iranian oil exports, combined with slowing Chinese demand, disrupts the global tanker market as sanctioned fleets capture a growing share of maritime trade.
en_1140644540
Oil prices fluctuate ahead of the OPEC+ meeting as the Bank of Korea surprises with a rate cut.
Oil prices edge slightly lower ahead of the key OPEC+ meeting, while the Bank of Korea shocks markets with a second consecutive rate cut, signaling significant economic challenges in Asia.
en_1140646540
Oil prices fluctuate ahead of the OPEC+ meeting as the Bank of Korea surprises with a rate cut.
Oil prices edge slightly lower ahead of the key OPEC+ meeting, while the Bank of Korea shocks markets with a second consecutive rate cut, signaling significant economic challenges in Asia.
en_1140646540

Goldman Sachs forecasts a Brent price drop to $76 in 2025

The American bank anticipates a decline in Brent crude oil prices to $76 per barrel in 2025, driven by an oversupply in the global oil market, despite ongoing geopolitical tensions.
South Africa: TotalEnergies Accelerates Exploration in the Deep Water Orange Basin
TotalEnergies strengthens its strategy in South Africa with an environmental impact study for the Deep Water Orange Basin block, a strategic offshore area, despite persistent environmental controversies.
en_1140632540
South Africa: TotalEnergies Accelerates Exploration in the Deep Water Orange Basin
TotalEnergies strengthens its strategy in South Africa with an environmental impact study for the Deep Water Orange Basin block, a strategic offshore area, despite persistent environmental controversies.
en_1140632540
OPEC+ faces strategic challenges ahead of a decisive meeting on oil production
OPEC+ members meet amidst tensions over production targets, global economic uncertainties, and weak demand, particularly in China.
en_1140624540
OPEC+ faces strategic challenges ahead of a decisive meeting on oil production
OPEC+ members meet amidst tensions over production targets, global economic uncertainties, and weak demand, particularly in China.
en_1140624540
U.S. Oil Stocks: Sharp Drop Despite Rising Production
U.S. crude oil reserves fell by 1.8 million barrels in a week, exceeding analysts' forecasts, despite production rebounding to near-record levels.
en_1140629540
U.S. Oil Stocks: Sharp Drop Despite Rising Production
U.S. crude oil reserves fell by 1.8 million barrels in a week, exceeding analysts' forecasts, despite production rebounding to near-record levels.
en_1140629540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS