Offshore staff HOUSTON – VAALCO Energy is looking to bring in a floating storage and offloading (FSO) unit at the Etame Marin oil field offshore Gabon. The company has signed a non-binding letter of intent with Omni Offshore Terminals to supply and operate the vessel at Etame for up to 11 years, following the expiry of the current FPSO Petróleo Nautipa contract with BW Offshore in September 2022. Omni has provided a preliminary proposal for leasing and operating the FSO, which could reduce VAALCO's operating costs by 15-25%, compared with the current FPSO contract during the term of the proposed agreement. Maintaining the current FPSO beyond its contract or transitioning to a different FPSO, VAALCO added, would require substantial capex investments.