Vaalco Energy is in talks with the Equatoguinean government to resume work in offshore Block P next year, the US-based independent announced late on Wednesday.
Vaalco acquired a 31% stake in Block P in 2012 and was to assist operator GEPetrol (58.4%) closely alongside partners Atlas Petroleum (5.6%) and Crown Energy (5%), but plans to develop the licence stalled.
“The Block P interest is currently in suspension, and the company is working with the Ministry of Mines and Hydrocarbons to lift the suspension by the end of 2018,” Vaalco said.
Source: TOGY