12:13 PM EDT, 03/25/2024 (MT Newswires) -- Vaalco Energy ( EGY ) said Monday that Equatorial Guinea government has approved the joint operating agreement for development and production on the offshore Venus-Block P Plan of Development.

The production sharing contract provides a 25-year development and production period from the approval date.

Vaalco shares rose nearly 10% in recent trading.

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