Vaalco takes 60% stake in 102-MMboe West Africa field

(WO) — Vaalco Energy reported initial production of approximately 2,000 bopd from a new development well offshore Gabon and confirmed operatorship of a potentially material offshore project in Côte d’Ivoire.

The Houston-based independent said the Etame 15H-ST development well in Gabon’s Etame field has been drilled, completed and brought online, delivering a stabilized flow rate of approximately 2,000 gross barrels of oil per day with a 38% water cut.

The well includes a 250-meter lateral of net pay in high-quality Gamba sands near the top of the reservoir and is being actively managed to stabilize pressure and optimize reservoir performance.

Vaalco has also spudded a step-out exploration well in West Etame from the S1 slot on the Etame platform. The prospect carries a 57% chance of geologic success and is expected to reach target depth by mid-March. If successful, the well could add incremental reserves and production in 2026.

In Côte d’Ivoire, Vaalco was confirmed as operator with a 60% working interest in the Kossipo field on the offshore CI-40 Block, alongside partner PetroCI (40%). The company expects to submit a field development plan in the second half of 2026.

The Kossipo discovery is estimated to contain gross 2C resources of approximately 102 MMboe and 293 MMboe in place. The field was originally discovered in 2002 and appraised in 2019, when a well tested at more than 7,000 bopd.

New ocean bottom node seismic data is supporting an updated evaluation and development plan. The Baobab Ivorien FPSO is currently off the East coast of Africa and is expected to return offshore Côte d’Ivoire by late March, with production targeted to resume in the second quarter.

“We have begun 2026 with some very meaningful events," George Maxwell, Vaalco’s CEO, said. "We have been confirmed as the operator with a 60% working interest in the Kossipo field, a discovery with an estimated 293 MMboe in place located southwest from our highly productive Baobab field on the CI-40 Block. We are also pleased with the encouraging start of the Gabon drilling campaign, the ET-15H-ST which stabilized at approximately 2,000 bopd. The rig has remained on the Etame platform and is now drilling an exploration prospect in West Etame, that has a 57% chance of geological success and if successful could add production and additional reserves in Gabon.”