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Ophir seeking investors for Fortuna FLNG project

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LNG Industry,

According to Reuters, Ophir Energy Plc is still in the process of seeking equity investors for its Fortuna floating LNG (FLNG) project, following Schlumberger’s decision to walk away from the project. Ophir is also reportedly in talks with potential gas buyers.

In late April 2016, Reuters reported that Schlumberger chose to walk away from the project, following a failure to reach an agreement based on the terms agreed in the Heads of Terms.

The COO of Ophir, Bill Higgs, reportedly said: “We've done all the work in a very difficult environment to deliver a very investable project, (including) bringing down the capital costs of first gas by half to what they were 12 months ago, to US$450 million, which is huge.”

Edited from various sources by David Rowlands

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