HOUSTON, Aug. 29, 2014 /PRNewswire/ -- VAALCO Energy,
Inc. (NYSE: EGY) today provided an update on recent activities
offshore Gabon.
Production from the Etame Marin block has resumed after the
successful completion of previously announced maintenance work on
the Company's leased Floating, Production, Storage and Offloading
(FPSO) vessel. Work was performed to upgrade the fire and gas
detection systems on the FPSO and other routine maintenance work
was completed on-time and without any safety or environmental
issues. To facilitate this work, production from the block
was shut-in beginning on August 23, 2014, and restarted on
August 29, 2014. Production is
expected to increase to pre-shut-in production rates over the next
few days as well operations are stabilized.
The platform jackets for both of the two new production
platforms for the additional development of the Etame Marin block
are now in place with this week's setting of the second platform
jacket adjacent to the Southeast Etame and North Tchibala fields.
Leg piles for the Southeast Etame/North Tchibala platform are
currently being installed to secure the jacket to the seabed.
The two new production platforms are each located in
approximately 80 meters of water.
The deck sections of both platforms are currently being towed to
Gabon with arrival expected in
early September, 2014. The deck sections are currently
located off the coast of Brazil,
approximately 2,000 nautical miles west of their final destination
in the offshore waters of Gabon. The deck sections are
expected to be mated with the jacket sections later in September
and the drilling of the first development well from the new Etame
field platform is scheduled to commence in mid-October, subject to
platform readiness and the arrival of the contracted Transocean
"Constellation II" jack-up rig.
About VAALCO
VAALCO Energy, Inc. is a Houston based independent energy company
principally engaged in the acquisition, exploration, development
and production of crude oil. VAALCO's strategy is to increase
reserves and production through the exploration and exploitation of
oil and natural gas properties with high emphasis on international
opportunities. The company's properties and exploration
acreage are located primarily in Gabon, Angola
and Equatorial Guinea in
West Africa.
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SOURCE VAALCO Energy, Inc.