VAALCO seeks offshore Angola partners

Offshore staff

HOUSTONVAALCO Energy has opened a data room in London for potential farm-in partners to its interest in block 5 offshore Angola.

The company has completed interpretation of its reprocessed 3D seismic data on the block. Initial analysis suggests the top four prospects/leads have combined recoverable resource potential of more than 800 MMbbl of oil.

Numerous large independent E&P companies and some majors have expressed interest in reviewing the data over the coming months.

The concession runs through November 2017. At present, no further exploratory drilling is planned before early 2017.

Offshore Equatorial Guinea, VAALCO continues to work with the Ministry of Mines, Industry and Energy and block operator GEPetrol on a revised joint operating agreement that should lead to VAALCO being appointed operator.

The partners continue to work on approval of a field development and production plan. They are reviewing the project’s economics in light of continued low oil prices and the likely attendant decrease in development costs.



Share your news with Offshore at

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...