US independent Vaalco Energy aims to strengthen its shallow-water oil portfolio in Africa through mergers and asset acquisitions, writes Iain Esau.
Building on the producing and cash-generating Etame project off Gabon, chief executive Cary Bounds said that by 2025 “we are targeting five times growth in production reserves and value.”
He told analysts at the company’s fourth quarter earnings late last week that: “Our goal is to demonstrate transformational growth, both organically and through M&A activity …and we plan to keep our geographic focus in Africa.”
