FINWIRES · TerminalLIVE
FINWIRES

Equatorial Guinea OKs Europa Oil & Gas' Farm-out Deal with Fuhai

By

Europa Oil & Gas (EOG.L) said Friday its associate Antler Global secured approval from Equatorial Guinea's Ministry for Mining and Hydrocarbons Department to complete the previously announced farm-out agreement with Fuhai for the EG-08 production sharing contract.

The transaction remains subject to Overseas Direct Investment approval from the Shandong Provincial government in China.

The oil and gas company holds a 42.9% stake in Antler, which will continue as operator with a 40% working interest in the production sharing contract. Fuhai will hold 40%, while Equatorial Guinea's national oil company GEPetrol will hold the remaining 20%.

The company added that it plans to drill the Barracuda-1 well in early 2027.

Related Articles

Equities

Eni Teams Up With Seri Industrial to Develop Battery Supply Chain

Eni (E) Industrial Evolution and Seri Industrial agreed on a joint project to build an integrated industrial supply chain in the lithium iron phosphate battery sector, the oil major said Friday.As part of the deal, Eni Industrial Evolution is acquiring a 30% stake in a new company established by Seri Industrial's FIB for 55 million euros ($64.1 million) plus any price adjustments, the company said.The project is aimed at producing lithium iron phosphate battery cells and modules and assembling stationary energy storage for electric mobility, Eni said.The deal is expected to close within five days, the company said.

$E
Equities

Pulsar Helium Buys Surface Land at Topaz Project in US

Pulsar Helium (PLSR.L) purchased 1,360 acres of surface land at its Topaz helium project in Minnesota, US, from Wolf Lands Inc. for $2.5 million.The primary helium company said Friday the deal will be funded from its existing cash resources, and the acquisition will support the project's next phase of development.

$PLSR.L
Equities

SBM Offshore Nears Deal with Petrobras for Two Floating Oil, Gas Vessels

SBM Offshore (SBMO.AS) wrapped up negotiations with Petrobas for two floating oil ​and gas production vessels, Reuters reported Thursday, citing Magda ​Chambriard, chief executive officer of Brazil's state-controlled oil company.Chambriard said the parties will soon sign the deal for the vessels, set to be named P-81 and P-87, which will be used for the Sergipe deepwater project in Brazil.

$SBMO.AS