Vaalco Energy has spud an appraisal wellbore at Etame field offshore Gabon, as part of its 2019-20 drilling campaign.
The company is drilling the Etame 9P appraisal wellbore, which expected to take around four weeks. It aims to evaluate the Dentale reservoirs situated under the Etame field. The reservoirs are expected to contain up to 4.6 million gross barrels of recoverable oil.
Based on the availability of oil resources in Dentale, Vaalco will drill additional wells to recover the hydrocarbons.
Vaalco Energy CEO Cary Bounds said: “We have entered into the first phase of our growth strategy starting with the Etame 9P appraisal wellbore where we are seeking to de-risk significant resources in the Dentale formation with a view to future exploitation opportunities.
“The resources we are targeting were identified in oil-bearing Dentale reservoirs encountered in wells drilled beneath the Gamba reservoir at the Etame field.
“The Etame 9P appraisal wellbore represents the first of many opportunities where we are attempting to create substantial value for our shareholders by converting resources to reserves in a cost-effective manner.”
Once drilling the Etame 9P well is complete, Vaalco Energy will drill the Etame 9H development well to test the Gamba reservoir. The company has hired Vantage Drilling International Topaz jackup drilling for 2019’s drilling campaign. The jackup will be used to drill two appraisal wellbores and up to three development wells.