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Thursday, November 12, 2009
Vaalco Energy reported that the jackup drilling rig, Sapphire Driller, which it has contracted for drilling in Gabon, is presently undergoing inspection by the owner and will then be transported from Cote d’Ivoire to Gabon. Depending on the availability of the rig as well as parts needed for a planned workover, Vaalco plans to use the rig to drill several prospects in Gabon.
In December 2009, the company expects to workover its Ebouri development well (EEBOM-3H) to replace non-working electric submersible pumps using the Sapphire Driller. Once the rig is in place over the existing platform, the workover should be completed within two weeks. Vaalco said that it expects production to increase upon completion.
Following the completion of the workover the rig is expected to move to a well slot on the Ebouri platform to drill an additional development well (EEBOM-4H). After that the company will drill the ETSEM-1 well on the Southeast Etame, followed by the the previously announced development well (ET-7H), a sub-surface completion well in the Etame field. Subject to the timely progression of the drilling program offshore Gabon, Vaalco expects to begin drilling the ET-7H well in the first half of 2010.
The company also said that it is in advanced discussions with its partners regarding further wells offshore Gabon. For 2010, Vaalco has budgeted for two additional exploration wells in the Etame Marin concession. Depending on agreements with partners and the continued availability of the Sapphire Driller jackup rig, one or both of these wells may be drilled in succession following completion of the drilling program explained above.
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