VAALCO Energy, Inc. Announces Finalization of Agreements in Equatorial Guinea
The Block P Production Sharing Contract (“PSC”) provides for a development and production period of 25 years from the date of approval of the POD.
- The Block P Production Sharing Contract (“PSC”) provides for a development and production period of 25 years from the date of approval of the POD.
- George Maxwell, VAALCO’s Chief Executive Officer, commented, “With final documents for Block P signed, we are very excited to proceed with our plans to develop, operate, and begin producing from the discovery in Block P offshore Equatorial Guinea over the next few years.
- We anticipate the completion of the FEED study will lead to an economic Final Investment Decision or “FID” which will enable the development of the Venus POD.
- The Block P development will further enhance our portfolio by adding yet another strong producing asset to VAALCO’s global portfolio.