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Successful Workover on Avouma Platform Offshore Gabon

Source: www.gulfoilandgas.com 12/21/2016, Location: Africa

VAALCO Energy, Inc. (VAALCO) announced that the South Tchibala 2-H well is back on production after utilizing a hydraulic workover unit to replace a failed Electrical Submersible Pump (ESP) system. The well is currently producing at a stabilized rate of 1,600 barrels of oil per day (BOPD) gross, or 430 BOPD net to VAALCO.

As previously announced, the ESP system failed in both the South Tchibala 2-H and the Avouma 2-H wells this past summer. Prior to temporarily shutting in the well after the ESP system failed, the South Tchibala 2-H well was producing approximately 1,700 gross BOPD or 460 BOPD net to VAALCO. Separately, work is proceeding as planned to replace the failed ESP system in the Avouma 2-H well and the Company expects to return the well to production prior to yearend. A detailed inspection of the failed ESPs is underway to determine the cause of the failures and results from the inspections are expected in the first quarter of 2017.

Cary Bounds, VAALCO’s Chief Operating Officer and Interim CEO commented, “We are pleased to have restarted production on the South Tchibala 2-H well and will continue to monitor the performance of the ESP. We are also optimistic about restoring production from the Avouma 2-H well soon. I am especially pleased that we have demonstrated that we can conduct well interventions utilizing a hydraulic workover unit which resulted in a more efficient operation at a lower cost when compared with the prior practice of employing a drilling rig. With the recent rise in commodity prices and the resumption of production from the Avouma platform, we are optimistic about our outlook for 2017.”

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