Antler Global Ltd has received a 12-month extension to the first two years of the production sharing contract for EG-08 block, offshore Equatorial Guinea.
FARM-OUT
The company has an 80% working interest in the PSC, while national oil and gas company, Guinea Equatorial de Petróleos (GEPetro), holds 20%.
EG-08 contains 2.196 trillion cubic feet (Pmean), with the main prospect of Barracuda holding an estimated 878 billion cubic feet.
Europa Oil & Gas (Holdings) plc, with a 42.9% equity interest in Antler, said that the extension would take the PSC’s first sub-period to 4 October 2026.
“I am pleased to have secured the ministers approval for this extension which will provide plenty of time to finalise the farm out process for EG-08, where we continue to make good progress,” added Europa CEO William Holland.
“Concurrently, the technical team are working on detailed engineering plans for drilling the Barracuda prospect, which we hope to spud in 2026.”