VAALCO plans to swap BW Gabon FPSO for Omni FSO

摘要

VAALCO Energy looks set to terminate the contract with BW Offshore for an FPSO on its Etame Marin block off Gabon next year and replace it with a cheaper FSO development. The Petroleo Nautipa has been on the US independent’s block since 2002 with the contract due to expire next September. The vessel has oil production capacity of 25,000 b/d and current production is around 18,000 b/d. A US $125m four well campaign due to start in the fourth quarter will add up to another 8,000 b/d and VAALCO is looking for new drilling campaigns every 18 months over the next decade and sees production heading closer to 30,000 b/d.