Vaalco signs FSO agreement for Gabon field

Gabon

LIBREVILLE, August 26, 2021 – Vaalco Energy has signed a letter of intent for World Offshore Services Corporation to provide and operate an FSO vessel in Gabon, the US independent said on Wednesday.

The double-hull crude tanker Cap Diamant is bound for the Etame Marin offshore field.

The operating agreement is expected to become effective by early September 2021 and will be for eight years following the current FPSO’s work on the field in September 2022.

The contract comes after an expired non-binding letter of intent with Omni Offshore Terminals.

Vaalco operates the Etame Marin block with a 63.6% interest. The asset has produced more than 120 million barrels of oil.

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