en.Wedoany.com Reported - Vaalco Energy has commenced a new drilling campaign in Egypt's Eastern Desert in early May, having signed a rig contract and begun drilling six additional development wells, though the company's full-year 2026 capital budget has not increased as a result. This drilling campaign follows a 22-well project completed between December 2024 and January 2026, where all wells reached their intended targets. Among them, the final well drilled in the H field opened up a new development area, with an initial production rate of approximately 450 barrels of oil equivalent per day.

The drilling of these six additional development wells commenced immediately following the completion of the previous 22-well project, forming part of Vaalco Energy's ongoing field development in Egypt's Eastern Desert. The company's current drilling activities have not exceeded the original capital budget framework, indicating that it continues to advance its exploration and development plans within the existing investment structure. The previously completed 22-well project covered multiple field areas, with all wells successfully drilled to target horizons, meeting the project design requirements. Notably, the last well in the H field not only achieved its drilling objectives but also discovered a new development area, with an initial production rate of 450 barrels of oil equivalent per day, providing new potential for subsequent development.

Vaalco Energy's operations in Egypt's Eastern Desert are ongoing, and the new six-well drilling plan is expected to progress steadily according to contractual arrangements. The company stated that this drilling campaign will fully utilize existing equipment and personnel, further expanding the production base while maintaining cost control. The successful completion of the previous 22-well project has accumulated experience for the new drilling campaign and validated the development potential of the region's oil fields. Vaalco Energy will continue to execute its development strategy in Egypt's Eastern Desert, with the drilling of these six additional development wells representing its latest progress in the local oil and gas exploration and development sector.

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