VAALCO firms up cash for Gabon FPSO swap and drilling

摘要

VAALCO Energy has ensured it can go ahead with its FPSO swap and four well drilling campaign off Gabon later this year with a production hedge. A US $125m four well campaign is due to start in the Etame Marin block in the fourth quarter. The firm is also considering spending up to another $50m on a project to swap BW’s Petroleo Nautipa FPSO for an FSO to be provided by Omni Offshore. The FSO would store and offload the production and processing would be completed on the existing platforms.