• Vaalco has signed a binding LOI with World Carrier to provide and operate the Cap Diamant as a Floating Storage and Offloading (FSO) unit at VAALCO’s Etame Marin field offshore Gabon for up to eight years with additional option periods.
• The agreement will become effective upon approval from the Etame joint owners which is expected by early September 2021.
• While the non-binding LOI with Omni has expired, the characteristics of the agreement with World Carrier are very similar to what was be ....
26 Aug 2021
Vaalco Energy (LSE: EGY): Firming-up an FSO in Gabon is an important positive development
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Vaalco Energy (LSE: EGY): Firming-up an FSO in Gabon is an important positive development
• Vaalco has signed a binding LOI with World Carrier to provide and operate the Cap Diamant as a Floating Storage and Offloading (FSO) unit at VAALCO’s Etame Marin field offshore Gabon for up to eight years with additional option periods.
• The agreement will become effective upon approval from the Etame joint owners which is expected by early September 2021.
• While the non-binding LOI with Omni has expired, the characteristics of the agreement with World Carrier are very similar to what was be ....