Vaalco Energy Secures Operatorship of Kossipo Field in Ivory Coast to Boost Oil and Gas Development in Africa

U.S. energy company Vaalco Energy has acquired a 60% operating interest in the Kossipo offshore field in Ivory Coast, with the national oil company PetroCI holding the remaining 40% stake. This transaction marks a significant advancement for Vaalco in oil and gas development across Africa.

The Kossipo oilfield was discovered in 2002, located in the CI-40 block, and was evaluated in 2019. The estimated total 2C resources of the field are approximately 102 million barrels of oil equivalent, including about 293 million barrels of crude oil reserves southwest of the Baobab field. Tests in 2019 showed that the Kossipo-2A well produced over 7,000 barrels of crude oil per day. Vaalco plans to finalize the field development plan in the second half of 2026 and utilize new subsea node seismic data to optimize the development strategy.

Meanwhile, Vaalco has also made progress in its oil and gas activities in Gabon. The company completed the drilling and commissioning of the Etame 15H-ST development well in the 1V block of the Etame field. The well has a net pay zone of 250 meters in the Gamba sandstone and achieved a stable flow rate of approximately 2,000 barrels per day using an electric submersible pump, with a water cut of 38%, consistent with forecasts. Additionally, an exploration well in the West Etame prospect spudded in mid-February and is expected to reach the target by mid-March. The results could boost production and reserves by the end of 2026.

Vaalco CEO George Maxwell stated, "We are starting 2026 with some very significant events that are positioning Vaalco to achieve our anticipated 225% organic production growth by 2030. We have been confirmed as the operator of the Kossipo field, with a 60% working interest in this discovery, which holds an estimated 293 million barrels of oil equivalent in reserves, located southwest of our prolific Baobab field in the CI-40 block." He added, "We are actively working with our partner PetroCI to submit the FDP in the second half of 2026, which we believe will help Vaalco increase production in Côte d'Ivoire. We are also pleased with the positive start to our drilling campaign in Gabon, with the ET-15H-ST well stabilizing at approximately 2,000 barrels per day."

In March 2025, Vaalco also acquired a 70% interest in the CI-705 block in the offshore Tano Basin of Côte d'Ivoire and will operate jointly with Côte d'Ivoire Exploration Petroleum Company and PetroCI. These initiatives demonstrate Vaalco's active efforts to expand its oil and gas operations in Africa and advance the development of projects such as the Kossipo field.

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