Houston-based energy player Vaalco Energy has made significant strides by restarting operations at a field off the coast of Côte d’Ivoire. This milestone follows a comprehensive overhaul of the floating production, storage, and offloading (FPSO) vessel deployed at the African asset, heralding a new chapter in Vaalco’s venture in the region.
After considerable efforts, Vaalco has confirmed that production has resumed at the Baobab field located in the CI-40 block offshore Côte d’Ivoire. This return to production follows the FPSO Baobab Ivoirien undergoing extensive refurbishment after it ceased hydrocarbon operations in January 2025. The vessel’s vital upgrades have paved the way for renewed activity in this promising region.
Vaalco’s Chief Executive Officer, George Maxwell, expressed his enthusiasm about this development, stating, “We are excited that the Baobab field on the CI-40 block offshore Côte d’Ivoire has restarted production in line with our projected timeline.” The confidence is further underscored by the extension of the CI-40 block license through 2038, suggesting a long-term commitment and development plan for the area.
In what seems like an explosive growth trajectory, Maxwell also noted that Vaalco had no assets in Côte d’Ivoire just a year earlier. Now, they have cultivated a strong foundation with ample development and exploratory potential. “We believe that the remainder of 2026 will be very impactful,” he added, hinting at exciting developments on the horizon.
Following nine months of exhaustive refurbishment work completed in Dubai, the FPSO vessel returned to Côte d’Ivoire in early Q2 2026. It was successfully moored and reconnected to the field infrastructure. This pivotal moment has allowed production to recommence with four wells active, and the remaining three expected to come online soon. Notably, Vaalco claims that field performance aligns with their projections, marking a successful restart.
The refurbishment of the FPSO was crucial not just for operational longevity but also as a precursor to a significant drilling program planned at Baobab. This Phase 5 drilling initiative, projected to unfold in the latter half of 2026, will incorporate four producers, two to three injectors, and two workovers. There is a high expectation for meaningful production contributions from this program, aimed at revitalizing the main Baobab field.
The focus on execution remains paramount for Vaalco, with Maxwell emphasizing their strategy to foster growth through organic capital programs. He stated, “We believe these efforts will translate into value for our shareholders in 2026 and beyond.” Consequently, Vaalco is positioning itself to navigate upcoming challenges while maximizing value in a rapidly evolving energy landscape.
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