VAALCO Energy has announced that it has entered into crude oil commodity swap agreements for a total of 672,533 barrels at a Dated Brent weighted average price of $66.51 per barrel for the period from and including May 2021 through October 2021. These swaps will settle on a monthly basis.  The Company is hedging a […]

TGS, a global provider of energy data and intelligence, today announced it signed a Memorandum of Understanding (MOU) with carbon storage experts Horisont Energi to jointly develop new Carbon Capture and Storage (CCS) technologies. The MOU between the companies signifies a unique collaborative effort to identify and develop efficient methods for both the identification and […]

BW Energy has announced an update on Hibiscus extension appraisal well (DHIBM-2) in the Dussafu Marin license in Gabon. The primary objective of the well was to test the northern extension of the Gamba Sandstone reservoir of the Hibiscus field, discovered in 2019. Initial findings indicate that the Gamba is water-bearing, instead of containing hydrocarbons. The Borr Norve Jack-up continues drilling operations to intersect the secondary targets for the appraisal well […]

BW Energy has provided an update on the operation and development of the Dussafu Marin license in Gabon. The Company will publish its financial report for the first quarter 2021 as the Gross production from the Tortue field averaged approximately 13,600 barrels of oil per day in the first quarter of 2021, amounting to a total gross production of 1.22 million barrels of oil for the period. BW Energy completed one lifting in the quarter and realised an average price of USD 66.7 per barrel. Production cost (excluding royalties) was approximately USD 23 per barrel. This includes approximately USD 1.0 million of […]

VAALCO Energy, has announced that it has signed a non-binding letter of intent with Omni Offshore Terminals Pte Ltd to provide and operate a Floating Storage and Offloading unit at VAALCO’s Etame Marin field offshore Gabon for up to 11 years upon the expiration of the current Floating Production, Storage and Offloading  contract with BW […]

After a decline in global crude production activity in 2020owing to COVID outbreak, the oil group Maurel & Prom (M&P), a subsidiary of the Indonesian hydrocarbon leader Pertamina, plans to increase its production in Gabon in 2021. To achieve this objective, the The group intends to restart drilling on its Ezanga permit in Gabon. “M&P […]

Panoro Energy ASA has started its 2021 Gabon drilling campaign with the spudding of the Hibiscus Extension well on the Dussafu Marin Permit. This will be followed by drilling at Tortue and Hibiscus North.  “We are now restarting an exciting phase of operational activity in Gabon. Hibiscus Extension represents the largest potential impact well this […]

BW Energy  has announced the resumption of a three-well drilling campaign on the Dussafu license offshore Gabon consisting of two exploration wells in the Hibiscus area and one production well on the Tortue field. The Borr Norve jack-up rig has been contracted for the campaign. The current campaign will start with the Hibiscus Extension appraisal well (DHIBM-2) which is located about 56 km […]

Maersk Drilling has been awarded a one-well contract from PC Gabon Upstream S.A. (PCGUSA), a subsidiary of PETRONAS, for the provision of a deepwater drillship rig. The 7th generation drillship Maersk Viking will be employed to drill an ultra-deepwater exploration well at approximately 2,100 m water depth in Block F13 offshore Gabon. PETRONAS is a […]

VAALCO Energy has announced that its Board of Directors has named George Maxwell as Chief Executive Officer effective April 12, 2021. Mr. Maxwell, who has been a Non-Executive Director of the Company since June 2020 and resides in the U.K., will continue to serve as a member of the Board. Cary Bounds who has served […]