US-based Vaalco Energy has secured a 60% operational stake in the offshore Kossipo field in Cote d’Ivoire, with PetroCI retaining the remaining 40% interest.
The Kossipo field, discovered in 2002 and appraised in 2019, is situated on the CI-40 block.
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Vaalco expects to finalise a field development plan (FDP) in the latter half of this year (H2 2026).
Recent advancements include utilising new ocean bottom node seismic data to refine development strategies and assess the field’s resources.
The Kossipo field’s estimated gross 2C resources are around 102 million barrels of oil equivalent (mboe), with approximately 293 million barrels of oil in place south-west of the Baobab field.
Testing in 2019 showed more than 7,000 barrels of oil per day (bopd) from the Kossipo-2A well.
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By GlobalDataThe Baobab Ivorien floating production storage and offloading vessel is currently positioned off the east coast of Africa and is set to return to offshore Cote d’Ivoire by late March 2026.
In conjunction with its operations in Cote d’Ivoire, Vaalco has also reported developments from its activities in Gabon.
The company has drilled, completed and brought into production the Etame 15H-ST development well in the 1V block of the Etame field.
The well features a lateral section with 250m of net pay within Gamba sands near the top of the reservoir. It has achieved a stabilised flow rate of roughly 2,000bopd, with a 38% water cut, using a 42/64 choke and an electric submersible pump operating at 54Hz.
This performance aligns with projections from the ET-15P pilot well results.
Additionally, the spudding of an exploration well on the West Etame prospect occurred in mid-February, with expectations to reach target zones by mid-March.
Results from this exploration could significantly enhance production and reserves by the end of 2026.
Vaalco CEO George Maxwell said: “We have begun 2026 with some very meaningful events that are positioning Vaalco to deliver expected 225% organic production growth by 2030. We have been confirmed as the operator with a 60% working interest in the Kossipo field, a discovery with an estimated 293mboe in place located south-west from our highly productive Baobab field on the CI-40 Block.
“We are actively working with our partner PetroCI to submit an FDP in the second half of 2026 that we believe will help Vaalco grow its production in Cote d’Ivoire. We are also pleased with the encouraging start of the Gabon drilling campaign, the ET-15H-ST, which stabilised at approximately 2,000bopd.”
In March 2025, Vaalco secured a 70% stake in the CI-705 block within the Tano basin offshore Côte d’Ivoire.
The company will operate this block alongside Ivory Coast Exploration Oil & Gas and PetroCI, with Vaalco holding a full paying interest through a commercial carry agreement.
