Venus is a conventional oil development located in shallow water in Equatorial Guinea and is operated by VAALCO Energy (EG). According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, Venus was discovered in 2005, lies in block Block P (PDA), with water depth of around 830 feet. Buy the profile here.
The project is currently in approval stage and is expected to start commercial production in 2026. The development cost is expected to be $310 m. The Venus conventional oil development will involve the drilling of approximately three wells.
Field participation details
The field is owned by GEPetrol and VAALCO Energy.
Production from Venus
Production from the Venus conventional oil development project is expected to begin in 2026 and is forecast to peak in 2028, to approximately 15,000 bpd of crude oil and condensate. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2044.
Remaining recoverable reserves
The field is expected to recover 35.52 Mmboe, comprised of 35.52 Mmbbl of crude oil & condensate.
For more details on the Venus Conventional Oil Field, buy the profile here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.
