The EU does not have a Delegation in Equatorial Guinea. The is accredited with the authorities there and monitors the situation. The local EU presidency rotates between EU countries represented in the country (same as before the Lisbon treaty).
Equatorial Guinea receives no funding from the 10th European Development Fund (EDF); its ratification of the EDF agreement was invalidated because it could not unreservedly accept Article 11 of the Cotonou Agreement on the International Criminal Court. Before the Cotonou Agreement was revised, it did receive funds from the 8th and 9th EDFs.
The EU does maintain a political dialogue with the national authorities. The most recent structured dialogue (based on Article 8 of the Cotonou Agreement) dates back to 2009. Human rights are among the issues raised as part of the dialogue.