Ophir Energy has singed an agreement with Golar LNG for a project in Block R in Equatorial Guinea.
The binding heads of terms for a midstream chartering and operating services agreement outline the terms for Golar to build operate and maintain the floating liquefication and storage vessel and facilities on the Ophir-operated Fortuna floating liquefied natural gas project in Block R.
Chief executive Nick Cooper said: “Finalising our midstream partner is a significant step forward for the Fortuna FLNG project. This agreement accelerates the date of first gas and reduces costs in a critical part of the value chain.
“The agreement completes the value chain economics and allows Ophir to confidently plan for first gas, and 67,000 barrels of oil equivalent per day of production by mid-2019.
“We will now move immediately into the define phase of the upstream and midstream projects with a view to reaching final investment decision by mid-2016,” he added
