Vaalco Energy Received an Oil Flow of Nearly 5 Thousand Barrels per Day Offshore Gabon
American Vaalco Energy reported positive results of exploration activities on the continental shelf of Gabon.
The company put into operation the directional well Etame-14H, which encountered a productive interval of about 325 metres in the sandstones of the Gamba formation. The initial production rate of the well amounted to about 4.85 thousand barrels of oil per day, of which about 2.85 thousand barrels per day is attributable to Vaalco.
The well was drilled within the Main Fault block of the Etame field. The company is currently continuing its drilling programme and is working on the next well — EEBOM-5H.
The Etame oil field
- is part of the Etame Marin concession, which also includes the Avouma, South Tchibala, and Ebouri fields;
- was discovered in 1998 by Vaalco Energy after drilling three exploration wells;
- is located in the northern part of the Congo Basin, in the waters of the Atlantic Ocean;
- commercial production began in 2001.
Vaalco Energy was founded in 1985. The company’s headquarters are located in Houston, Texas, United States. Its portfolio of producing assets includes projects in Gabon, Egypt, Côte d’Ivoire, Equatorial Guinea, Nigeria, and Canada.
The oil industry of Gabon began to attract attention in 1931, when several oil fields were discovered in regions neighbouring Libreville. It should be recalled that Gabon is a member of OPEC. According to Ecofin, in 2023 oil exports amounted to 7.23 billion United States dollars, accounting for about 67% of Gabon’s total exports. A report by the Bank of France, published in the same year, stated that the oil sector accounted for 38.4% of nominal GDP in the period from 2019 to 2023.
National production in 2024 reached 84 million barrels, which is 3.1% higher compared to the previous year, according to industry data published in April 2025. This corresponds to an average annual production level of approximately 230 thousand barrels per day. It was noted that such results are achieved against the background of natural production decline at a number of mature fields, mainly located onshore. In response, the authorities have intensified initiatives to develop deepwater offshore exploration, considering it as a tool to replenish reserves and maintain national production.
