VAALCO Energy has been forced into doubling its commitment in Angola to drilling a total of four wells in order to ensure it keeps a Kwanza Basin block. The US independent took over operatorship of Block 5 back in 2006 with the first term in the production sharing contract due to expire next month. But the company was unable to drill the two well exploration commitment as partner Interoil ran into financial problems and would not meets its own funding promises. VAALCO then spent years trying to bring in a new partner and was waiting for approval from Sonangol until the production arm of the national oil company decided last year that it wanted to take up the interest itself. The Celtic Sea semisub has since been contracted to drill the Kindele well in December.
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