Fossil Energy – Partnership
UK-listed Europa Oil & Gas has secured a Chinese partner for its high-impact EG-08 gas block offshore Equatorial Guinea.
Fuhai (Beijing) Energy will take a 40% stake and fund up to 95% of the $53 million cost of an exploration well.
The Barracuda prospect is located near Chevron’s producing fields and is scheduled for drilling in 2026.
The deal reduces Europa’s financial risk while accelerating development in one of West Africa’s proven gas hubs.
