Europa Oil & Gas has extended the completion deadline for its farm-out of a 40% interest in the EG-08 production sharing contract offshore Equatorial Guinea to Fuhai (Beijing) Energy Limited, pushing the longstop date to August 31, 2026.
The deal, signed through Europa’s associated company Antler Global Limited, has already secured approval from Equatorial Guinea’s Ministry for Mining and Hydrocarbons and now awaits outbound investment clearance from the Beijing Municipal Development and Reform Commission. Europa said the approval is taking longer than expected following new Chinese regulations on outbound investment that took effect on July 1, 2026, which are intended to support overseas expansion tied to the Belt and Road Initiative while giving Chinese authorities greater power to scrutinise transactions.
Once completed, Antler will hold a 40% working interest in EG-08 and remain operator, with Fuhai holding 40% and Equatorial Guinea’s national oil company GEPetrol holding the remaining 20%. Europa chief executive William Holland said he remains confident of receiving approval in the coming weeks and that preparations for drilling the Barracuda-1 well remain on track for an early 2027 spud date.
Source: energy-pedia.com