According to Reuters, Ophir Energy has ended negotiations with Schlumberger regarding the Fortuna floating LNG (FLNG) project. Reportedly, both parties were unable to reach an agreement based on the terms agreed in the Heads of Terms.
Ophir initially entered the non-binding Heads of Terms Agreement with Schlumberger in late January 2016. Schlumberger was to receive a 40% economic interest in the Fortuna FLNG project, located offshore Equatorial Guinea.
Reuters reports that Ophir has remained in discussions with various other companies regarding financing of, and participation in, the Fortuna FLNG project.