ABUJA, Nigeria — Atlas Petroleum International has committed to the development of the Venus discovery in Block P offshore Equatorial Guinea.
This follows swift government approval for the plan of development, which was submitted earlier this month. Vaalco Energy is the block operator, and state-owned GEPetrol is the other partner.
According to Atlas Petroleum, the co-venturers expect to spud the first development well in early 2024, and over the next three years will also acquire, convert and install production infrastructure as well as drill an additional development well and a water injector in 2025-2026.
First oil should flow in 2026. Based on results from the initial discovery well and reservoir modeling, production should climb to about 15,000 bbl/d on completion of drilling.