US independent Vaalco Energy has signed a binding agreement with a contractor for the lease and operation of floating storage and offloading vessel on the Etame field offshore Gabon.

The contractor is World Carrier Offshore Services, which received a binding letter of intent from Vaalco to supply the FSO for up to eight years with additional option periods available upon the expiry of the current floating production, storage and offloading contract in September 2022.

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