VAALCO Energy has launched its phase three drilling program offshore Gabon with the spudding of the ET-15 infill well on the Etame platform.

In December 2024, the company secured a drilling rig for this campaign in collaboration with an affiliate of Borr Drilling. The program will include drilling several development wells, appraisal and exploration wells, as well as performing workovers, with options to drill additional wells.

VAALCO plans to drill at both the Etame and Seent platforms. The company also intends to re-drill and perform workovers in the Ebouri field to recover production and reserves that were previously excluded due to the presence of hydrogen sulfide, as noted in a November statement.

In July 2025, VAALCO conducted scheduled shutdowns of its Gabon platforms for safety inspections and maintenance, aimed at improving the integrity and reliability of the assets. This was the first full field maintenance shutdown since the new Floating Storage and Offloading (FSO) vessel was commissioned in 2022. The turnaround was completed on schedule, within budget, and with no safety or environmental incidents.

George Maxwell, CEO of VAALCO, expressed enthusiasm about the start of the drilling campaign: “We’re excited to begin our drilling campaign offshore Gabon and to initiate a series of near-term value creation catalysts, as outlined during our Capital Markets Day presentation in May. With the drilling rig arriving in late November, we’ve spudded our first well, ET-15. We are starting at the Etame platform with this infill well and pilot holes.”

Following the work at the Etame platform, the rig will move to the SEENT and Ebouri platforms, where additional wells and workovers are planned to enhance production, reduce costs, and potentially add reserves.

“As we enter 2026, with significant projects underway in both Gabon and Côte d’Ivoire, we look forward to driving meaningful growth that will generate value for our shareholders throughout the decade,” Maxwell added.