Page 15 - AfrOil Week 35 2021

AfrOil NEWS IN BRIEF AfrOil

The prioritisation of the second phase of our corresponding increase in recovery and reserves Upper Cretaceous turbidite channel and fan sys-
CSR programme for the remainder of 2021 is at Etame. tems present in the eastern deepwater area are
the provision of water to communities. The George Maxwell, VAALCO’s Chief Executive also revealed on the new coverage.
Company is taking cognisance of the submis- Officer, commented: “The quick approval of the The basin-wide understanding provided by
sions from the Environmental Impact Assess- Agreements by our co-venturers further solidi- PGS MegaSurvey seismic data allows reliable
ment and feedback to our Community Liaison fies the tremendous benefits of this FSO solution regional depositional models to be built both
Officers (CLOs) from ongoing consultations at Etame. We expect to have the FSO in place and spatially and temporally through geological
with the local community during the current operating in September 2022, prior to when our time, making it easier to identify the best poten-
seismic survey programme. Water, besides being current FPSO contract expires. We will continue tial targets for future exploration
the most sort after community request, is a key to maximise the value opportunities for our The new MegaSurvey coverage allows the
enabler to other CSR initiatives the Company shareholders and look forward to beginning our entire West African transform margin to be
wishes to initiate in the future and is the key to next drilling campaign at Etame later this year.” analyzed in a regional context. PGS 3D data
life in remote communities. VAALCO, September 1 2021 along the margin covers existing discoveries,
The CLOs report that approximately 40% farm-in opportunities, and open blocks availa-
of boreholes present in the Muzarabani-Mbire PGS completes coverage ble for licensing. A special promotional package
area are non-functional - most commonly due is available that allows exploration for analogs,
to a lack of spare parts. Priority in assisting with of West African Transform identification of new prospects and detailed play
the provision of water will be given, in order of analysis from shelf to deep water, along the entire
priority, to clinics, cattle dips and schools. The Margin with new data margin.
Company will undertake to effect repairs and/ Five key regional horizons have been tied to
or rehabilitate or drill new boreholes and install from Cote d’Ivoire wells and interpreted allowing field-scale geo-
4-metre-high water tanks on stands to pro- logical understanding to be placed into a basin-
vide water storage and where appropriate solar The latest PGS MegaSurvey data reveals Tano wide context and open acreage opportunities to
pumps. In keeping with the Company’s strong Basin prospectivity from shelf to deep water and be assessed with confidence.
focus on local content, the fabrication of the stor- supplements our continuous data coverage from PGS, August 26 2021
age tanks will be awarded to local contractors in Côte d’Ivoire to Nigeria. This data package from
the community. PGS enables regional exploration across the VAALCO announces
Drilling Programme Update: The Company West African Transform Margin.
is also pleased to have completed the tendering Cretaceous Potential Revealed in CDI Open binding letter of intent
process for long lead drilling items (wellheads Acreage: In partnership with PetroCi and
and casing) which is awaiting formal award. The Direction Générale des Hydrocarbures, PGS for FSO at Etame
rig selection process is advancing and the Com- has completed phase two of the Côte d’Ivoire
pany is in detailed discussions with shortlisted MegaSurvey, adding 9,897 square km of 3D VAALCO Energy has announced that its affil-
rig providers as well as drilling services provid- and 24,632 km 2D in the Tano Basin. Data from iate VAALCO Gabon has signed a binding let-
ers. The process is expected to be complete by the phases 1 and 2 have been matched, merged, and ter of intent (LoI) with World Carrier Offshore
end of the September quarter, which will then be re-binned onto a common grid, to create a sin- Services Corp to provide and operate a Floating
followed with the formal award of drilling and gle, continuous 32,310 square km volume of full- Storage and Off-loading (FSO) unit at VAAL-
services contract. stack data in the time domain. CO’s Etame Marin field offshore Gabon for up to
Invictus Petroleum, August 30 2021 The latest Cote d’Ivoire MegaSurvey spans eight years with additional option periods avail-
the western extension of the prolific Tano Basin able upon the expiration of the current Floating
and covers two recently spudded exploration Production, Storage and Off-loading (FPSO)
SERVICES wells, Baleine-1X (Eni) and Obunu-1X (Total). contract in September 2022. The non-bind-
The MegaSurvey is also along-strike to the ing LoI with Omni Offshore Terminals, which
VAALCO’s co-venturers in recent Eni Eban-1X nearfield discovery, which is VAALCO announced in April of this year,
reported to have found light oil in an 80m-thick expired without any mutually agreeable contract
Etame project approve section of Cenomanian sandstones. Numerous being reached.

FSO agreements

VAALCO Energy has announced that the Etame
co-venturers approved the Bareboat Contract
and Operating Agreement with World Carrier
Offshore Services Corp and the Agreements
are now effective. As previously announced on
August 25, 2021, the new Agreements to replace
the existing Floating Production, Storage and
Off-loading unit (FPSO) with a Floating Storage
and Off-loading unit (FSO) will significantly
reduce storage and off-loading costs by almost
50%, increase effective capacity for storage by
over 50%, and is expected to lead to an exten-
sion of the economic field life, resulting in a

Week 35 01•September•2021 www. NEWSBASE .com P15