Europa signs farm-out agreement for offshore Equatorial Guinea

Europa Oil & Gas signed a binding farm-out agreement covering the EG-08 production sharing contract offshore Equatorial Guinea, securing a partner ahead of planned exploration drilling.

Under the agreement, Europa will farm out a 40% working interest in the EG-08 block to APCL. The transaction is structured to support the drilling of the Barracuda exploration well, with the incoming partner funding the majority of the costs associated with the first well.

Operatorship of the EG-08 block will remain with Antler Global. The Barracuda prospect is the initial drilling target within the license and is planned as the first exploration well on the block.

Once approvals are received, the partners will progress planning toward drilling operations, with the Barracuda well targeted for a future offshore drilling campaign.