VAALCO Energy, Inc. Provides Operational Update
March 28 2019 - 6:45AM
VAALCO Energy, Inc. (NYSE: EGY) (“VAALCO” or “the Company”) today
announced that a workers’ strike occurred on the third party owned
and operated Floating Production, Storage and Offloading vessel
(FPSO) that VAALCO and its joint interest owners utilize to collect
and store all production from the Etame Marin field offshore
Gabon. VAALCO and its joint interest owners have leased the
FPSO Nautipa from Tinworth Limited, an affiliate of BW Offshore,
since the Etame field began production in 2002. Workers on
the FPSO are members of the Gabon petroleum workers union, “ONEP,”
and are retained by Tinworth.
As a precaution, the Etame Marin field was
temporarily shut in on March 26, 2019. On March 27, 2019,
Tinworth advised that the work stoppage ended. Efforts are
underway to restart production and return to normal production
levels.
About VAALCO
VAALCO Energy, Inc. is a Houston-based
independent energy company principally engaged in the acquisition,
development and production of crude oil. The Company's properties
and acreage are located primarily in Gabon and Equatorial Guinea in
West Africa.
Investor Contact Al Petrie
713-543-3422
Vaalco Energy (NYSE:EGY)
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