Equatorial Guinea Greenlights VAALCO's Venus-Block P Development, Setting Stage for Long-Term Energy Production
Portfolio Pulse from Benzinga Newsdesk
VAALCO Energy, Inc. has received approval from the Government of Equatorial Guinea for the Joint Operating Agreement related to the Venus-Block P Plan of Development. This approval, under the Block P Production Sharing Contract, initiates a 25-year development and production period.
March 25, 2024 | 7:06 am
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VAALCO Energy, Inc. secures a significant regulatory approval for its Venus-Block P development in Equatorial Guinea, marking a pivotal step in its long-term production strategy.
The approval of the Joint Operating Agreement by the Government of Equatorial Guinea is a critical regulatory milestone for VAALCO Energy, Inc. It not only solidifies the company's presence in the region but also ensures a long-term production outlook. This development is likely to be viewed positively by investors, as it secures the company's operational future and potential revenue streams for the next 25 years.
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