Vaalco Resumes Baobab Field Production After FPSO Refurbishment

Event summary

  • Vaalco resumed production at the Baobab field on the CI-40 block offshore Côte d’Ivoire following a nine-month FPSO refurbishment.
  • The FPSO returned to Côte d’Ivoire in early Q2 2026 and was successfully reconnected to the field infrastructure.
  • Production has resumed from four wells, with three additional producers expected to come online shortly.
  • The refurbishment aimed to extend the FPSO's life and support a planned development drilling program in the second half of 2026.
  • The CI-40 block license has been extended through 2038, with significant development drilling upside at Baobab.

The big picture

Vaalco's resumption of production at the Baobab field marks a critical milestone in its strategic positioning in Côte d’Ivoire. The successful FPSO refurbishment and planned drilling program underscore the company's focus on extending the life of its assets and driving meaningful growth. This development is part of a broader trend in the oil and gas sector, where companies are increasingly investing in refurbishment and development drilling to maximize the value of existing fields.

What we're watching

Execution Risk
Whether Vaalco can sustain the momentum from the Baobab field's resumption and the planned Phase 5 drilling program.
Development Upside
The pace at which Vaalco can capitalize on the significant development drilling upside at Baobab.
Strategic Positioning
How Vaalco's strong position in Côte d’Ivoire and Gabon will impact its overall growth strategy.