Vaalco eyes West African opportunities
The independent US explorer has expanded in Gabon and is looking elsewhere in the region
Houston-based independent Vaalco sees growing opportunity in West Africa as the oil majors trim their portfolios, chief executive George Maxwell tells Petroleum Economist. Vaalco recently almost doubled its stake in Gabon’s Etame field to 58.8pc by acquiring the interest of its former partner, South African energy and petrochemicals company Sasol. That acquisition took the company “to the next level”, Maxwell says, as Etame serves as a stable, secure and cash-generative base for further expansion. Vaalco CEO George Maxwell The firm is “looking to find highly accretive opportunities” for further growth, Maxwell says, with interest “prima
Also in this section
19 April 2024
Cairo’s currency problems have hindered investment, but Pharos sees considerable potential as Egypt emerges from crisis
18 April 2024
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria
17 April 2024
Uzbekistan and Kazakhstan provide opportunities after Europe turns it back, while also offering another gateway to China
16 April 2024
Commentators need to shake off the myths of the past, with rising oil prices a boon for US economy