Ashurst advised Houston-based independent energy company VAALCO Energy, Inc. on the transfer on its assets to a fully owned Gabonese subsidiary, VAALCO Gabon S.A., in accordance with the OHADA Company Act.

Ashurst advised Houston-based independent energy company VAALCO Energy, Inc., which operates the Etame Marin block in Gabon, on the transfer of its assets to a fully-owned Gabonese subsidiary, VAALCO Gabon S.A. (VGSA), in accordance with the OHADA Company Act.

As part of this transfer, VGSA entered into a loan novation agreement in respect of the existing facility with the International Finance Corporation as the new borrower.

The transaction is a significant step in ensuring VAALCO's continued compliance with applicable laws and regulations and securing and developing its operations in Gabon.

The Ashurst team was led by partner Yann Alix, assisted by associates Fiona Tsung, Zeina Talhouni and Nicole Lim.