AGP Executive Report
Last update: 3 hours agoExploration Push: Europa Oil & Gas secured a 12-month extension for offshore block EG-08, to 4 October 2027, giving time to advance a farm-out deal with Fuhai Energy and prepare the Barracuda-1 well. Oil-and-Gas Reset: Equatorial Guinea is overhauling its hydrocarbon rules to offer more flexible contract terms and revive drilling after crude output plunged from about 140,000 barrels per day in 2020 to 20,000 in September. Offshore Activity: Transocean’s Deepwater Conqueror won a five-well U.S. Gulf contract worth about $225 million, starting in 2027 after its current program in Equatorial Guinea. Gas Development: Chevron says its $690 million Aseng project remains on track for first gas in 2028, with a development rig expected early next year. Regional Energy: Equatorial Guinea joined eight other African national oil companies in signing a declaration to expand energy cooperation, including commercial supply deals and domestic refining.
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