“Right now, we have close to 64 wells that need to be redrilled, and for this, we cannot find funds. A lot of infrastructure has been designed for a specific period and without funds, we are left with a lot of problems.”
Equatorial Guinea is pioneering developments in gas trading around West Africa with plans for a first regasification facility and political initiatives.
The board at London-listed oil firm Ophir Energy has rejected a takeover offer from Indonesian company Medco.
Ophir Energy said today that its efforts to find alternative funding sources for its Fortuna FLNG project off Equatorial Guinea were at an advanced stage.
London-based Ophir Energy said today that Gunvor had been selected as the preferred buyer of LNG for offtake from the Fortuna project off Equatorial Guinea.
Ophir Energy said today that it would save $10-$12million a year by laying off 15% of its global workforce.
Ophir Energy has ended talks with Schlumberger over the company's upstream participation in its Fortuna project in Equatorial Guinea.
Ophir Energy said it is in the process of signing off on its long-term agreements for its Fortuna FLNG (Floating Liquefied Natural Gas) project off Equatorial Guinea. The company will be working with a shortlisted group of counterparts all of which are globally established LNG buyers. The offtake contracts offer flexibility to competitively deliver the gas into either the Atlantic or Pacific Basin and Ophir said they had been met with strong interest from LNG buyers.
Ophir Energy has awarded two contractor consortia contracts for its Fortuna FLNG project in Equatorial Guinea. The agreements, for Upstream Front End Engineering and Design (FEED), were given to McDermott Marine Construction and GE Oil & Gas and Subsea 7 and Aker Solutions. The move comes in the same week the company revealed it would be reduce its headcount and closing offices in a $60million savings bid.