AGP Executive Report
Last update: 9 hours agoOil Investment: Europa Oil & Gas has secured a 12-month extension for its offshore EG-08 licence, to October 2027, giving it more time to complete a farm-out with China’s Fuhai Energy and prepare the Barracuda-1 exploration well. Production Reset: Equatorial Guinea is overhauling its hydrocarbon law after crude output fell to about 20,000 barrels a day in September, from roughly 140,000 in 2020. The changes aim to offer more flexible contract terms and attract drilling investment. Gas Pipeline: Chevron says its $690 million Aseng project remains on track for first gas in 2028, as the country seeks to bolster declining gas supplies and support its LNG sector. Economic Outlook: The IMF expects Equatorial Guinea’s economy to contract by 1.7% in 2026 and 1% in 2027. Regional Trade: Equatorial Guinea joined national oil companies from eight other African countries in signing a declaration to deepen energy cooperation, including commercial supply agreements and expanded refining capacity.
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