(Ecofin Agency) - VAALCO Energy, Inc., an American Oil company listed in New York, announced on 20 July having started operations in the 2-H well, in the South-East of the Etame offshore field, with a production rate of about 3,400 barrels of oil per day.

The Texan company stated having a net share of 850 barrels of oil per day in this well’s production which has a total depth of 14,012 feet. It is planning to continue producing at this current rate in order to monitor the wellhead and the bottom hole pressure, so as to optimise the flow rate of fluid in the production installations recently put into operation on the oil rig.

“We are delighted with the results, which are beyond our expectations, for this first well discovered in 2010 in the South-East of the Etame field”, commented Steve Guidry, CEO of the Texan company, adding that the well could support an even higher production rate.

VAALCO Energy, Inc., is the operator, with 28.1% share, of the permit on the Etame Marin block covering 3,000 km2 in offshore Gabon. It has assets in Angola, where it drilled with success in March the first post-salt exploration well Kindele-1 which reached a total depth of 1,829m on the block 5.