VAALCO Energy has completed drilling an exploration well on the Ovoka Prospect (formerly Mu), in 60m water depth offshore Gabon to evaluate the Gamba reservoir and deeper Lucina formations.
The zones of interest were found to be water-bearing and the reservoir properties in the Lucina were of poor quality.
The construction of two production platforms for the development of the Etame Marin block, also offshore Gabon, is underway and the company confirmed that timing for delivery continues to be on schedule.
The company expects one platform to be installed in the Etame field and the second platform to be installed in-between the Southeast Etame and North Tchibala fields in the first half of 2014, bringing the total number of platforms in the Etame Marin block to four.
Multiple wells are expected to be drilled from each of the new platforms as part of the future development plans for the Etame Marin block.
The company and its partners are in discussions pertaining to future exploration prospects on the Etame Marin Concession.
