Vaalco targets first oil in mid-to-late 2026
Vaalco project set to boost Equatorial Guinea’s upstream
Houston-based independent plans to start oil production in the country in 2026
US independent Vaalco and state-owned partner GEPetrol have received approval from the government of Equatorial Guinea for their plan of development for the Venus field in the country’s offshore block P. Vaalco will operate Venus with an 80pc stake, while GEPetrol owns the remaining 20pc. The partners submitted their plans in July. The other stakeholder in the block P joint venture, Nigerian independent Atlas Petroleum International, opted not to participate in the Venus plans. Vaalco is targeting first oil in “mid-to-late 2026”, and says Venus adds 23.1mn bl in 2P gross reserves. The developers plan to spud Venus’ first development well in early 2024 and “acquire, convert and install produc
Also in this section
12 December 2025
The latest edition of our annual Outlook publication, titled 'The shape of energy to come: Creating unique pathways and managing shifting alliances', is available now
12 December 2025
The federal government is working with Alberta to improve the country’s access to Asian markets and reduce dependence on the US, but there are challenges to their plans
11 December 2025
The removal of the ban on oil and gas exploration and an overhaul of the system sends all the right messages for energy security, affordability and sustainability
10 December 2025
The economic and environmental cost of the seven-year exploration ban will be felt long after its removal
