Exploration - Exploration

VAALCO's continued success from Gabon and Egypt drilling campaigns

The Company is drilling additional wells in 2026.

With a drilling programme ongoing offshore Gabon, VAALCO Energy has reported impressive initial well results on the Ebouri-5H well and has mobilised a rig to the SEENT platform

Successfully drilled, completed and placed on production the Ebouri-5H development well at the top of the structure with a lateral of 300 meters of net pay in high-quality Gamba sands. Tyhe company read excellent initial flow rate, which shot past 8,000 gross barrels of oil per day, 4,700 bopd net to Vaalco, with very low water cut.

The company aimed directional drilling of the slant well, lying adjacent to GMF-1X discovery well so that gas and condensate resources in the Dentale D15 reservoir from the crest of the North Tchibala structure can be accessed for operational use.

Natural gas obtained in this manner can be leveraged directly, significantly reducing the costs of higher priced diesel that is currently transported to the field by vessel.

In line with its 2026 onshore drilling schedule in Egypt, the company has completed drilling of the first well in the region. The HE-9 development well that has encountered 26 meters of net pay in the Asl B reservoir is now placed on production. The well has achieved excellent initial flow rate of 529 gross BOPD, above Vaalco’s predrill expectations.

George Maxwell, Vaalco’s Chief Executive Officer, commented, “We are very pleased with the continued positive results from our Gabon drilling campaign. The Ebouri-5H development well encountered 300 meters of net pay in high-quality Gamba sands in a crestal position within the Ebouri field. The well was brought online with initial rates exceeding 8,000 gross BOPD, or 4,700 net BOPD. We have mobilized the rig to the SEENT platform where we plan to drill two development wells. Our goal is to continue to successfully add production and reserves with the remainder of our Gabon drilling campaign. In Egypt, given the success of the 2025 drilling campaign, including captured efficiencies and accelerated technical subsurface evaluation, the Company is drilling additional wells in 2026. We completed and placed on production the HE-9 development well in early June, the first well in our 2026 drilling program, and are very pleased with the strong IP rates. With the Baobab field successfully restarted and the continued successes in the Gabon and Egypt drilling campaigns, we have many positive achievements year to date, and we believe that the remainder of 2026 will be profitable. We remain focused on execution and driving meaningful growth through our organic capital programs that we believe will translate into value for our shareholders in 2026 and beyond.”

Kent to deliver construction management in Angola

Kent to deliver construction management in Angola. (Image source: Adobe Stock)

Integrated engineering and project delivery company, Kent, has been awarded a contract by CABGOC (Cabinda Gulf Oil Company Limited) for Construction Management Services in Angola

Under the scope of the contract, Kent will deliver integrated construction management services across CABGOC’s operations, including the supervision and coordination of on-site construction activities and associated field execution support, leveraging its multidisciplinary expertise, Kent will support safe, efficient, and high-quality delivery across key disciplines such as mechanical, electrical and instrumentation, fabrication, and project planning.

Services will include the mobilisation of a highly capable workforce, combining a strong local presence with international expertise. The project will prioritise the development of local capability through structured knowledge transfer and skills development, supported by Kent’s global operational readiness training programme, helping to build a sustainable regional workforce.

This award reflects Kent’s continued growth in delivering complex construction and asset support services, as well as its commitment to helping clients achieve safe, reliable, and lower-carbon energy outcomes.

“Being awarded this contract by CABGOC is a testament to the strength of our relationship and our shared focus on safe, efficient project delivery,” said Iain Eddie, Executive Vice President of EMEA & APAC at Kent. “We are proud to support this project with our construction management expertise and look forward to delivering excellence while creating lasting value locally.”

Shell reports promising exploration results offshore Namibia

With partners QatarEnergy and NAMCOR, Shell has found promising exploration results from its Merlin-1X exploration well in Petroleum Exploration Licence No. 0039 (PEL 0039), offshore Namibia

This pushes forward its evaluation of the Orange Basin block with the well successfully penetrating the Coniacian play. Delivering the most promising subsurface results to date in PEL 0039, it indicated good reservoir quality with light oil and limited associated gas, compared to prior results within the licence.

The Merlin-1X well, spudded on 8 April 2026, is the tenth well drilled in the licence, which is operated by Shell.

The results enhance Shell’s understanding of the basin and support continued evaluation of the resource and its commercial potential across the licence. Further drilling later in 2026 is under consideration as part of a broader exploratory appraisal programme.

Eugene Okpere, Shell’s Executive Vice President for Exploration, Strategy and Portfolio, said, “These are encouraging results that add to our understanding of the Orange Basin potential. We are progressing this opportunity through a disciplined, data-led approach to establish commerciality, focusing our investment on options that are material, competitive and resilient within our portfolio. This is built on strong partnership and alignment, and I thank the Government of the Republic of Namibia, our partners and all teams involved.”

TGS to deliver streamer acquisition deal in Africa

Energy and data intelloigence provider, TGS, has been awarded a streamer acquisition contract in the Africa & Middle East region.

A 3D Ramform vessel is scheduled to commence acquisition in early September 2026, and the contract has a duration of approximately 55 days.

Kristian Johansen, CEO of TGS, said, "I am very pleased with this contract award, which builds visibility into the winter season. Our Ramform acquisition platform, combined with the proprietary GeoStreamer technology will provide the client with high quality data that enables more accurate and informed decision-making in their oil and gas exploration activities.”

Previously, the Nigerian Upstream Petroleum Regulatory Commission has partnered with TGS and SeaSeis Geophysical Limited to announce the Nigeria Laide multi-client 3D survey, which focuses within the outer fold and thrust belt of the deepwater eastern Niger Delta. This area is marked with complex geological challenges such as stacked toe-thrust structures, elongate anticlines (e.g. Bolia–Chota), inner fold-and-thrust-belt geometries, and shale diapirs/mud volcanoes.

These are addressed with the help of GeoStreamer dual-sensor system, long offsets, wide tow, and a triple-source configuration that are capable of generating modern broadband seismic data to support full-integrity PSTM and Q-PSDM through advanced Elastic FWI-driven velocity model building. This makes it easy for operators and explorers to finalise the next steps based on precisely acquired insights from otherwise inaccessible and challenging zones.

Vaalco's Baobab field offshore Ivory Coast is now online

Vaalco Energy has brought back online the Baobab field on CI-40 block offshore Ivory Coast following the refurbishment of Baobab Ivoirien Floating Production Storage and Offloading vessel

This comes following a nine-month refurbishment in Dubai, as the FPSO returned to Côte d’Ivoire in early Q2 2026, was moored into position and re-connected to the field infrastructure.

Production has resumed from four producing wells with the remaining three producers expected to come online shortly; the field is performing in line with Vaalco’s expectations.

FPSO refurbishment was undertaken to extend the life of the vessel and to ensure its long-term operational capacity as a significant development drilling program at Baobab is planned to begin in the second half of 2026; and Phase 5 drilling programme is expected to include four producers, two to three injectors and two workovers providing potential meaningful additions to production from the main Baobab field.

George Maxwell, Vaalco’s Chief Executive Officer, commented, “We are excited that the Baobab field on the CI-40 block offshore Côte d’Ivoire has restarted production in line with our projected timeline. We have the CI-40 block license extended through 2038 and believe that there is significant development drilling upside at Baobab. In early 2024, we had no assets in Côte d’Ivoire and now we have developed a strong position with development and exploration potential. We are at a critical junction, with successes in the Gabon drilling campaign and the Baobab field returning to production, and we believe that the remainder of 2026 will be very impactful. We remain focused on execution and driving meaningful growth through our organic capital programs that we believe will translate into value for our shareholders in 2026 and beyond.”