Ophir Awaiting Fortuna Block Extension

December 31, 2018

World Energy Reports LLC.
block r.png

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.

Floating Production Week delivers unrivaled overview, insight and analysis to the Offshore Floating Production Systems and Technology market

Floating Production Systems Report And Online Database

  • Monthly reports -- Our monthly reports provide a detailed snapshot of the business sector as of the middle of each month. More than 80 pages of data and industry analysis each month. Excel spreadsheets with each report enable subscribers to tailor the data presentation to their needs. In October of each year we provide a detailed five year forecast of production floater orders. In March of each year we fine tune the forecast and make revisions as needed.
  • Online database -- The online database is updated every day – with information direct from primary sources. In the database are details for 240 planned projects, 370 installations in service, 70+ floaters on order and 20+ floaters available. The database is fully searchable. Customized charts and spreadsheets can be directly produced from the database.
  • Customer support -- We are available to assist with technical questions about information in the database and reports -- and assist with any questions about using the database search tools.

Here's what you get!

Request Free Trial