• Vaalco Energy has started production from a new well at the Etame offshore field, initially producing around 2,000 barrels per day.

• The development comes as Gabon’s oil output remains below past peaks and mature fields continue to decline.

• A second well is being drilled, while Etame’s long-term production outlook remains constrained.

A new oil well has entered production offshore Gabon, as U.S.-based Vaalco Energy seeks to sustain output at the mature Etame field.

On February 24, the company announced the start-up of the Etame 15H-ST development well on the Etame Marin permit. The well, drilled within an already producing zone, is currently yielding about 2,000 barrels of oil per day. The associated water cut is estimated at 38%. Vaalco said the well intersected around 250 meters of oil-bearing reservoir.

The launch is part of a broader development program aimed at supporting production at the offshore site. In 2025, Vaalco reported average output of about 14,300 barrels of oil equivalent per day from its Gabon assets, according to its January 2026 operational update. By comparison, production at the Etame Marin permit averaged around 19,000 barrels per day in 2024, based on company reports.

A second well is currently being drilled in another section of the field known as West Etame. Pre-drill studies indicate a 57% probability of success. Vaalco holds a 63.6% operating interest in the Etame Marin permit.

The development comes as Gabon continues to rely largely on fields discovered several decades ago. The Etame Marin permit has been producing since the early 2000s.

According to OPEC’s 2024 Annual Statistical Bulletin, Gabon’s crude oil production averaged about 216,000 barrels per day in January 2026. Historical data show that output exceeded 350,000 barrels per day in the mid-1990s.

As previously reported by Ecofin Agency in March 2025, Vaalco is targeting crude production of 30,000 barrels per day by the end of this year. However, economic assumptions from Global Data suggest that around 90% of the Etame field’s total reserves have already been recovered, with production expected to continue until the field reaches its economic limit in 2029.

Abdel-Latif Boureima