VAALCO closing on Gabon FSO - Nigeria/Angola out of growth plan

摘要

VAALCO expects to fnalise the contract to swap from an FPSO to an FSO for its Etame development off Gabon next month while it hopes to have a decision on a potential FPSO project off Equatorial Guinea this year. The company, now headed by George Maxwell who founded Nigeria specialist Eland, is looking for more shallow water op- erating assets off West Africa – Cameroon, Gabon and Congo in particular – but is very reticent about Nigeria and Angola.