Golar LNG and Schlumberger reaffirm their commitment to framework agreement

Golar LNG and Schlumberger have announced that Schlumberger's withdrawal from the Fortuna/Ophir development will not in any way influence the framework agreement that has been signed between the two companies.

The target of this framework agreement is to develop integrated solutions for stranded gas assets. The companies said that significant efforts have been put into this over the last months and the results have confirmed to both parties the commercial attractiveness and the technical viability of the floating LNG (FLNG) concept as a solution for rapid modernisation of stranded gas. The partnership is currently exploring several specific opportunities.

Although a commercial agreement between Ophir and Schlumberger was not reached, Golar said that it will independently continue to work with Ophir with the target to reach a final investment decision (FID) for the Fortuna development this year.

Edited from press release by Callum O'Reilly  

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/29042016/golar-lng-and-schlumberger-reaffirm-their-commitment-to-framework-agreement-2379/