The Cap-Diamant tanker, which is to be converted into a floating storage and offloading unit (FSO), arrived at a shipyard in Bahrain at the end of February 2022 for final modifications and configurations. Sea trials scheduled for the end of June for arrival in Gabonese waters in September, as scheduled The American company Vaalco Energy, operator of the Etame Marin block off Gabon, gave an update on March 1 on the project to replace the floating production, storage and offloading (FPSO) unit – currently installed on the hydrocarbon producing block – by a floating storage and offloading unit (FSO). The FSO contracts and associated engineering are progressing on budget and on schedule, Vaalco Managing Director George Maxwell said . The new contract, for the benefit of the platform of the Greek World Carrier – an oil tanker built in 2001 and called “Cap Diamant” -, is scheduled for an initial period of eight years with additional extension options. The platform will be delivered bareboat (rental mode without armament or equipment or with incomplete equipment). The Cap-Diamant tanker arrived at a shipyard in Bahrain in late 2022, for final modifications and configurations, according to Vaalcos update. The company expects the vessel to begin sea trials at the end of June 2022 before installation and the start of operations in Gabon in September 2022 . Compared to Norwegian BW Offshore s FPSO , Vaalco Energy estimates that World Carriers FSO will reduce crude oil storage and offloading costs by almost 50%, and operating costs generally by 17% at 20% from the entry into force of the contract until 2030. Vaalco Energy holds a 63.6% stake in the Etame Marin producing block, located offshore Gabon. Since the beginning of its exploitation, the Etame Marin block has already generated more than 120 million barrels of oil, according to data from the operator.