VAALCO Energy, Inc. Announces Significant Milestone in Its Côte D’Ivoire FPSO Dry Dock Refurbishment Project

Core Insights - Vaalco Energy, Inc. has announced a significant milestone in its Côte d'Ivoire Floating Production Storage and Offloading vessel (FPSO) Dry Dock Refurbishment Project [1] - The FPSO Baobab Ivoirien MV10 has ceased hydrocarbon production as scheduled on January 31, 2025, with the final lifting of crude oil expected around February 6, 2025 [2] - The vessel will be wet towed to shipyards in Dubai for refurbishment after its departure from the field on March 24, 2025 [3] - The CEO of Vaalco expressed satisfaction with the project's progress, indicating that the refurbishment will allow production to continue until at least 2038, pending regulatory approvals [4] - The company has already achieved a payback of 1.8 times its initial net investment in Côte d'Ivoire within eight months of closing the acquisition, with performance exceeding expectations [4][11] Company Overview - Vaalco Energy, Inc. is an independent energy company based in Houston, Texas, with a diverse portfolio of production, development, and exploration assets across multiple countries including Gabon, Egypt, Côte d'Ivoire, Equatorial Guinea, Nigeria, and Canada [5]