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
11 March 2026
De la Rey Venter, CEO of LNG player MidOcean Energy, discusses strategy, project developments and the prospects for the LNG market
10 March 2026
From Venezuela to Hormuz, the US—backed by the most powerful military force ever assembled—is redrawing not only oil and gas flows but also the global balance of energy power
10 March 2026
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
