HOUSTON – VAALCO Energy plans to use results from a newly completed seismic survey offshore Gabon to assess future drilling prospects.
The near 1,000 sq km (386 sq mi) of dual-azimuth 3D data covered the entire Etame Marin block.
According to VAALCO, merging legacy data with the new seismic allows for the first-ever continuous 3D seismic across the block. Processing of the new data should start in January, with processing and analysis of the full package due to be completed by 4Q 2021.
Late next year or early in 2022, the company plans to initiate the next drilling campaign at Etame.
CEO Cary Bounds said: “Over the past 20 years, we have capitalized on the significant resource potential at Etame by increasing the ultimate recovery from the initial estimate of 30 MMbbl gross of oil to 147 MMbbl gross of oil on a 2P basis…
“Our new 3D seismic survey is a vital tool in helping us unlock the remaining 116 MMbbl gross of oil reserves and resources identified on the license.
“The new seismic data will help us to optimize every location that we plan to drill and potentially identify new locations to add to our drillable inventory.”