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

Core Points - 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 ceased hydrocarbon production as scheduled on January 31, 2025, with the final lifting of crude oil expected around February 6, 2025 [2] - The project team has begun mobilization efforts for the safe disconnection of the FPSO, which is planned to be wet towed to Dubai for refurbishment after departing 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 recouped 1.8 times its initial net investment in Côte d'Ivoire within eight months of closing the acquisition, with asset 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]