First Etame jacket in place offshore Gabon

Vaalco Energy expects installation of two more production platforms to proceed as planned later this year on the Etame Marin block offshore Gabon.

Offshore staff

HOUSTONVaalco Energy expects installation of two more production platforms to proceed as planned later this year on the Etame Marin block offshore Gabon. One will be added at the Etame field, and the second platform will be installed between the Southeast Etame and North Tchibala fields.

The first platform jacket arrived in Gabon last month and has been positioned on the seabed over the Etame field. The second jacket, now in Gabon, is expected to head out to the field for installation this month. During September, the deck sections should arrive in country (currently under tow).

Transocean’s jackupConstellation II is due to start development drilling from both platforms during 4Q.

Later this month, the owner/operator of the leasedEtame FPSO will implement a six-day shutdown to upgrade the gas detection and fire systems. Production will also be shut-in for this program.

OffshoreAngola, Vaalco and its partner purchased seismic data earlier this year over the outboard segment of block 5. They expect to complete processing in early 2015, with a view to identify postsalt and presalt prospects.

Soon the company expects to sign a contractual amendment proposal with Angola’s government. This provides for a three-year extension until Dec. 1, 2017, spudding one exploration well prior to the expiration of the current Nov. 30, 2014, time extension, and a second well by early 2016.

The Transocean semisubmersibleCeltic Sea will drill this year’s well on the post-salt Kindele prospect.

Off Equatorial Guinea,Vaalco is working with current block operator GEPetrol on a joint operatorship model and with the Ministry of Mines, Industry and Energy on the timing and budget for development/exploration activities.

Vaalco proposed rearranging the program, with development of the Venus discovery starting before drilling exploration wells at SWGrande and Mart.

08/08/2014

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