Gulf Oil and Gas accountACCOUNT

VAALCO Energy Updates Gabon Activity

Source: www.gulfoilandgas.com 1/11/2006, Location: Africa

VAALCO Energy, Inc. has reached an agreement with the Government of Gabon for a five-year extension of the Etame Marine Permit. The extension, which will go into effect July 2006, is divided into a three-year first term and an optional twoyear second term. An exploration well is required during each term.

Separately, the Company also announced that it will now sell its Etame crude oil to Trafigura Beheer B.V. Trafigura was the high bidder for the contract which is based on Rabi Light. At current market prices, the Company would expect to receive a price of approximately Dated Brent less $1.25. This represents a significant improvement over the beginning of 2004, when due to weakness in the Rabi price, the Company was receiving Dated Brent less approximately $5.00. The first lifting under the new contract of approximately 720,000 barrels is ongoing.

Crude Oil News in Gabon >>

Congo >>  11/12/2019 - Anglo African Oil & Gas plc is pleased to announce that it has entered into a rig option agreement (the Rig Agreement) with Societe de Forage Petrolie...
Libya >>  10/22/2019 - Petrofac will provide FEED and conceptualisation studies to clients in Oman and Libya following the award of a clutch of new contracts. ...

Egypt >>  10/21/2019 - As a part of its ongoing drive to be among regionally and globally ranked Oil and Gas companies, Dragon Oil Ltd. - the fully owned exploration and pro...

Related Categories: Agents, Anti-foaming  Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Grout  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Summer Diesel  Surfactants 

Related Articles: Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Surfactants 


Gabon Oil & Gas 1 >>  2 | 3 | 4 |

Oil & Gas Projects in Gabon >>

More News

Related Links

AO BJ BW CD CG CI CM DZ EG ET GA GH GM GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright 2019 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.