VAALCO Energy was confirmed as operator in Cote d’Ivoire with a 60% working interest, with partner PetroCI having a 40% working interest in the Kossipo field, a discovery made in 2002 and later appraised in 2019 on the CI-40 block in offshore Cote d’Ivoire.
Vaalco is confirmed as operator with a 60% working interest in the Kossipo field on the CI-40 Block with a field development plan (“FDP”) expected to be completed in the second half of 2026. The New ocean-bottom node (OBN) seismic data are driving and derisking Vaalco’s updated evaluation and development plan.
The block has an Estimated Gross 2C resources of approximately 102 million barrels of oil equivalent (“MMBOE”) and 293 MMBOE in place, located southwest of the Baobab field.
Discovered in 2002 with the Kossipo-1X well and later appraised in 2019 with the Kossipo-2A well (tested at over 7,000 BOPD); and the updated arrival of Baobab Ivorien (formerly MV10) Floating Production Storage and Offloading Vessel (“FPSO”) as it is currently off the East coast of Africa and is expected to return to offshore Cote d’Ivoire by late March.
George Maxwell, Vaalco’s Chief Executive Officer, commented, “We have begun 2026 with some very meaningful events that are positioning Vaalco to deliver expected 225% organic production growth by 2030. 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 of our highly productive Baobab field on the CI-40 Block.
We are actively working with our partner PetroCI to submit an FDP in the second half of 2026 that we believe will help Vaalco grow its production in Cote d’Ivoire. With the Baobab FPSO on track to return to the field and commence production in Q2 2026, coupled with the Gabon drilling campaign, we are looking to drive meaningful growth that we believe will translate into value for our shareholders in 2026 and beyond.”
