Vaalco eyes West African opportunities

The independent US explorer has expanded in Gabon and is looking elsewhere in the region

Houston-based independent Vaalco sees growing opportunity in West Africa as the oil majors trim their portfolios, chief executive George Maxwell tells Petroleum Economist. Vaalco recently almost doubled its stake in Gabon’s Etame field to 58.8pc by acquiring the interest of its former partner, South African energy and petrochemicals company Sasol. That acquisition took the company “to the next level”, Maxwell says, as Etame serves as a stable, secure and cash-generative base for further expansion. Vaalco CEO George Maxwell The firm is “looking to find highly accretive opportunities” for further growth, Maxwell says, with interest “prima