AGP Executive Report
Last update: 11 hours agoOffshore Exploration: Europa Oil & Gas won a 12-month extension for Equatorial Guinea’s EG-08 block, giving it until October 2027 to advance a farm-out deal and prepare the Barracuda-1 well. Drilling: Transocean’s Deepwater Conqueror secured a $225 million, 450-day U.S. Gulf contract starting in 2027, directly after its current program in Equatorial Guinea. Oil and Gas Policy: The government is revising hydrocarbon rules to offer more flexible contract terms and attract drilling as production has fallen sharply from 2020 levels. Gas Development: Chevron says the $690 million Aseng project remains on track for first gas in 2028, with a development well and tie-back planned. Regional Energy: Equatorial Guinea joined eight other African national oil companies in pledging closer cooperation on energy security, trade and refining. At African Energy Week, the country’s local-content deputy minister also urged stronger domestic companies to help communities benefit from investment.
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