Houston-based Vaalco Energy has contracted DOF Subsea for construction and installation services to support the subsea reconfiguration associated with the replacement of the existing floating production, storage and offloading unit (FPSO) with a floating storage and offloading vessel (FSO) at the Etame field, offshore Gabon.
DOF Subsea will provide all personnel, crew and equipment necessary to assist with reconfiguring the Etame field subsea infrastructure to flow field production to the replacement FSO. Engineering and design work in relation to the field infrastructure upgrade has been completed, with subsea work planned to commence in July and be completed before the FSO is operational in September 2022.
The Norway-based contractor will utilise its offshore construction vessel Skandi Contructor to perform the work, which includes shipping over 5,000 m of new flexible pipelines from the UK to install in the Etame field; retrieval and relocation of existing in-field flowlines and umbilicals; and assisting in the connection of new risers to the FSO.
George Maxwell, Vaalco’s CEO, commented: “We continue to progress forward with our field reconfiguration and FSO conversion at Etame, on time and within the capital guidance we previously provided. The FSO increases effective storage capacity by over 50% and reduces costs by almost 50% compared to the current FPSO. We continue to estimate total capital conversion costs of $40 to $50 m gross, with annual projected operational cost savings of approximately $20m to $25m gross per year through 2030, giving the project a very attractive payback period of less than two and a half years.”