Ophir Awaiting Fortuna Block Extension

Monday, December 31, 2018

Ophir Energy said it is still awaiting a response from Equatorial Guinea's Ministry of Mines and Hydrocarbons (MMH) with regards to its request for an extension of the Block R licence, where Africa's first deepwater independent floating liquefied natural gas (FLNG) project is planned.

"We continue to engage with the MMH as well as potential investors in the Fortuna Development. We expect to receive further communication from the MMH in January concerning either the lapse of the licence or the terms of any extension and will update shareholders as soon as the situation is clarified," the company said in a press release on Monday.

Ophir holds an 80 percent operated interest in Block R, located to the west of Bioko Island in water depths of up to 1,950 m. There have been six commercial discoveries to date in Block R, five of which were made by Ophir. Gas discovered in Block R is around 99 percent methane with no contaminants or heavier hydrocarbons.

The project will see a Golar owned LNG tanker, the Ghandria, be converted into a Floating Liquefaction, Storage and Offloading vessel.

The project entered FEED in July 2015 and FID is expected once a financing solution is finalized. Production is expected to be around 330 MMscfd with a plateau of 30 years.

Categories: Africa Government Regulations LNG Natural Gas FLNG Floating Production

Related Stories

Three Bills Threaten US Offshore Drilling

Remote Technologies Augment Capabilities

ClampOn: Ultrasonic Intelligent Sensors

Welcome to the App Store

What Became of the Toisa OSV Fleet?

ExxonMobil Reports Discovery Offshore Guyana

Jan De Nul Enters French Offshore Wind Market

FPSO & IPO: Growth of an Operator

VAALCO Spuds Etame Appraisal

Woodside Backs Seismic Data Acquisition Company

Current News

Homeland Orders Security/Crew Vessels

Aurelius Backs Ardent Buyout

Ørsted to Deploy GE's 12MW Offshore Turbine

Chevron to Boost St. Malo Production

Bibby Taps Real-time Wave Data

Europa Lands High Impact Venture Offshore Morocco

Talos Making Moves in the Gulf of Mexico

Mitsui Looks to Sell BassGas Stake

First Subsea to Cover Formosa 1

Oceaneering Wins Umbilicals Job Off India

Subscribe for OE Digital E‑News

OE Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week