AGP Executive Report
Last update: 9 hours agoOil & Gas: Equatorial Guinea is rewriting its hydrocarbon law after crude output fell to about 20,000 barrels a day in September, from roughly 140,000 in 2020. The government says more flexible contract terms aim to spur drilling and exploration. Offshore Exploration: Europa Oil & Gas won a year-long extension for the EG-08 block, to October 2027, to advance a farm-out deal and prepare the Barracuda-1 well; state oil company GEPetrol holds 20%. Drilling Contracts: Transocean’s Deepwater Conqueror secured a $225 million U.S. Gulf contract starting in 2027, after its current Equatorial Guinea program. Gas Development: Chevron expects first gas from its $690 million Aseng project in 2028, with a development well and tie-back planned. Industry Cooperation: Equatorial Guinea’s national oil company joined eight others in signing a declaration to expand energy trade and refining cooperation. Company News: Vaalco Energy, which has assets in Equatorial Guinea, will report third-quarter results on November 5.
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