Houston-based Vaalco Energy’s Avouma project is back online offshore Gabon, West Africa, following issues with its electric submersible pump (ESP) that date back to late June.
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Map from Vaalco. |
According to Vaalco, the secondary ESP in the Avouma 2-H well on the Avouma Platform in the Etame Marin Permit was recently started and the well is now producing at a stable rate.
The primary ESP failed in the Avouma 2-H well, and prior to attempting to start the secondary ESP, Vaalco and the manufacturer and installer of the ESP worked closely to optimize the startup procedure, the company said.
Vaalco was able to successfully start the lower pump last week, and performance is stable with the well producing approximately 1850 b/d gross, and 450 b/d net to Vaalco, representing a 31% gross, and 32% net decrease respectively. Prior to the first ESP failure, Avouma was producing some 2700 b/d gross, and 660 b/d net to Vaalco,
Vaalco said it is currently flowing the well at a lower rate while monitoring the performance of the ESP.
“We are conducting a detailed investigation of ESP failures encountered earlier this year on the platform and hope to restore production from two shut-in wells in Q4,” Cary Bounds, Vaalco COO said. “The upcoming Avouma ESP replacements will utilize a more cost effective hydraulic workover unit that is being mobilized to the platform. The ability to restart production from the Avouma 2-H validates our strategy of installing primary and secondary pumps in all of our platform wells.”
Earlier this month, Vaalco revealed a 72% increase in its revenue for Q2 to $19 million, from Q1 2016’s $11 million. Its operating income also jumped $11.2 million to $4.6 million in Q2, compared with a loss of $6.6 million in Q1.
Also at the beginning of August, Vaalco entered into a deal with Sojitz Etame to acquire an additional 3.23% stake in the Etame Marin Permit, offshore of the Republic of Gabon, West Africa. The Houston-based independent is operator of, and currently owns a 30.35% participating interest (28.1% working interest) in the fields in the Etame Marin block, which encompasses approximately 28,700 gross acres in shallow water.
Should the deal be approved, Vaalco will hold 33.58% stake in the concession.
Read more:
Vaalco sees more ESP failure, jump in revenue
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