Houston-based Vaalco Energy has completed the first exploration phase at its block offshore Côte d'Ivoire and is now proceeding to the second following good results.
Vaalco farmed into and became the operator of exploration license CI-705 located offshore Côte d'Ivoire in March 2025, holding a 70% working interest.
The U.S. company reported today, November 9, that it had completed the first exploration phase work commitments, which included the evaluation and interpretation of existing seismic and well data.
Thanks to the results from this first phase, Vaalco decided to progress to the second exploration phase, with government approval secured. This phase includes further seismic reprocessing, relinquishing 25% of the exploration block and a commitment to drill an exploration well by the end of 2028.
The CI-705 block is located in the prolific Ivoirien Basin and is approximately 70 kilometers to the west of Vaalco’s CI-40 Block, where the Baobab and Kossipo oil fields are located;
“We are pleased with the results of the First Exploration Phase and are excited to move into the Second Exploration Phase. We see encouraging prospectivity on the block in the play types proven throughout the Ivoirien Basin including both structural and stratigraphic traps in the Upper Cretaceous and Albian sections," said George Maxwell, Vaalco’s Chief Executive Officer.
"Recent nearby discoveries are on trend with CI-705 and, provide additional validation of our play concepts and our view of the block’s prospectivity. Our continued success and organic project pipeline support Vaalco’s strategic focus on growing production, reserves and value for our shareholders.”