AGP Executive Report
Last update: 6 hours agoOffshore Energy & Geoscience: TGS has signed with Equatorial Guinea’s Ministry of Hydrocarbon and Mining Development to build a major offshore multi-client seismic MegaSurvey, starting with post-stack reprocessing of ~27,273 km of 2D and ~35,000 sq km of 3D, targeting completion in Q3 2026, with a wider plan for a nationwide harmonized dataset across the Rio del Rey and Rio Muni basins. Oil & Gas Operations: VAALCO Energy says production has resumed at the Baobab field (CI-40 block, offshore Côte d’Ivoire) after a successful FPSO refurbishment—an update that signals continued momentum in the wider Gulf of Guinea upstream corridor. Exploration Dealmaking: Galp Energia has signed a tentative MoU to run exploration studies on offshore Equatorial Guinea blocks EG-02, EG-09 and H (southeast of Bioko), ahead of a potential production sharing contract as the country prepares a licensing round. Upstream Financing & Partnerships: Europa Oil & Gas partner Antler Global is moving toward completing a farm-out for the EG-08 licence offshore Equatorial Guinea, with Equatorial Guinea approval received and the deal still awaiting China’s Overseas Direct Investment approval; if cleared, the Barracuda-1 well could be spudded in early 2027. Industry & Trade Context: A U.S. trade-in-goods/services update and other regional business items were also reported, but the strongest Equatorial Guinea relevance this week came from the seismic and upstream exploration pipeline.
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