Global and Regional MarketsNewsThe Offshore Frontier

Vaalco begins production offshore Equatorial Guinea

Vaalco Energy announced all partners signed the final documents, and the government of Equatorial Guinea has approved the joint operating agreement related to the previously approved Venus-Block P plan of development (POD).

The production sharing contract provides for a development and production period of 25 years from the date of approval of the POD.

“With final documents for Block P signed, we are very excited to proceed with our plans to develop, operate and begin producing from the discovery in Block P offshore Equatorial Guinea over the next few years. We will now proceed with our Front-End Engineering Design (FEED) study. We anticipate the completion of the FEED study will lead to an economic final investment decision, or FID, which will enable the development of the Venus POD,” said George Maxwell, Vaalco’s CEO.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button