Farm-out of African oil & gas block awaits regulatory clearance

February 13, 2026, by Melisa Cavcic

UK-headquartered and AIM-listed oil and gas company Europa Oil & Gas has reaffirmed that all requirements are out of the way for an extension of a production sharing contract (PSC), covering a block off the coast of Equatorial Guinea. A recently signed farm-out deal for the block is still pending regulatory approvals.

Europa Oil & Gas reported on the progress in the extension of the EG-08 PSC Phase 1 in October 2025, when the Minister of Hydrocarbons and Mining Development for Equatorial Guinea gave its blessing for a 12-month extension to the initial two-year period of the production sharing contract.

The company has now confirmed that all formalities to finalise the licence extension are done, which means that the first sub-period of Phase 1 of the PSC will expire on October 4, 2026.

Antler Global signed a farm-out agreement with Fuhai (Beijing) Energy in December 2025 for a 40% interest in EG-08. Currently, this agreement remains subject to relevant regulatory approvals.

Europa Oil & Gas holds a 42.9% equity interest in Antler Global, which has an 80% working interest in the EG-08 PSC, with the remaining 20% held by GEPetrol, the national oil and gas company of Equatorial Guinea, representing the state’s interest.

The EG-08 block is estimated to contain 2.196 trillion cubic feet (tcf) (Pmean), with the primary prospect being Barracuda, which has 878 billion cubic feet (bcf) (Pmean).