HOUSTON, March 28, 2019 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY) (“VAALCO” or “the Company”) today
announced that a workers’ strike occurred on the third party owned and operated Floating Production, Storage and Offloading vessel
(FPSO) that VAALCO and its joint interest owners utilize to collect and store all production from the Etame Marin field offshore
Gabon. VAALCO and its joint interest owners have leased the FPSO Nautipa from Tinworth Limited, an affiliate of BW Offshore,
since the Etame field began production in 2002. Workers on the FPSO are members of the Gabon petroleum workers union, “ONEP,”
and are retained by Tinworth.
As a precaution, the Etame Marin field was temporarily shut in on March 26, 2019. On March 27, 2019,
Tinworth advised that the work stoppage ended. Efforts are underway to restart production and return to normal production
levels.
About VAALCO
VAALCO Energy, Inc. is a Houston-based independent energy company principally engaged in the acquisition,
development and production of crude oil. The Company's properties and acreage are located primarily in Gabon and Equatorial Guinea
in West Africa.
Investor Contact
Al Petrie 713-543-3422
