We note the announcement by Golar LNG Partners’ regarding the dissolution of its OneLNG joint venture with Schlumberger. Whilst it is disappointing that Schlumberger will no longer be part of the partnership group, Golar and Ophir remain actively engaged in senior level discussions with a number of counterparties over a financing solution for the project.
Fortuna is a unique asset where many factors including the world-class reservoirs, dry pure-methane gas and benign metocean conditions allow for a low-cost, low-risk, floating LNG development concept utilising standard, proven industry technologies.
Video dated January 2016
In November 2016, Ophir signed a Shareholders Agreement with OneLNG, a joint venture Golar LNG Limited and Schlumberger, to establish a Joint Operating Company which will develop, finance and operate the Fortuna project, in Block R, offshore Equatorial Guinea utilising Golar’s FLNG technology.
FID is expected to take place in 2H 2017 with first gas anticipated in 2H 2020. Initial offtake is expected to be 2.2-2.5 mtpa for a duration of between 15 and 20 years which will monetise around 2.6 Tcf of the discovered resource.
- Progress various commercial and technical workstreams ahead of FID in 2H 2017
- First gas expected in 2020