HOUSTON - Vaalco Energy, Inc. (NYSE:EGY, LSE: EGY) announced today that production has resumed at the Baobab field on the CI-40 block offshore Côte d’Ivoire following completion of refurbishment work on the Baobab Ivoirien Floating Production Storage and Offloading vessel.
The FPSO ceased hydrocarbon operations in January 2025 and underwent a nine-month refurbishment in Dubai. The vessel returned to Côte d’Ivoire in early second quarter 2026, was moored into position and reconnected to the field infrastructure, according to a press release statement.
Production has resumed from four producing wells, with the remaining three producers expected to come online shortly. The company stated the field is performing in line with expectations.
The refurbishment was undertaken to extend the vessel’s operational life ahead of a planned development drilling program at Baobab scheduled to begin in the second half of 2026. The Phase 5 drilling program is expected to include four producers, two to three injectors and two workovers.
Vaalco holds the CI-40 block license through 2038. The company acquired its position in Côte d’Ivoire after early 2024, having previously held no assets in the country.
George Maxwell, Vaalco’s Chief Executive Officer, said production restarted in line with the projected timeline.
Vaalco Energy, founded in 1985 and based in Houston, Texas, operates production, development and exploration assets across Gabon, Egypt, Côte d’Ivoire and Equatorial Guinea.
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