Sasol has completed the sale of its 27.75% stake in a Gabonese licence to Vaalco.
Vaalco Energy has struck a deal to buy out its partner, Sasol, from shared operations offshore Gabon.
Vaalco Energy posted a net loss of $52.8 million for the first quarter of the year, driven by a non-cash charge of $59.1mn as a result of lower oil prices.
Gabon-focused Vaalco Energy has completed the South East Etame 4H well at 2,200 barrels per day of oil.
Equatorial Guinea has preliminarily awarded nine blocks in its EGRonda 2019 licence round, announcing the results at the Gas Exporting Countries Forum (GECF) under way this week in Malabo.
Vaalco Energy has posted a loss for the third quarter, with realised oil prices slipping and production down.