Why Floating LNG?
Floating LNG was one of many options considered, including back fill of Punta Europa LNG train 1 and terrestrial LNG, for the development of Block R and was chosen because it offers the simplest, fastest and most economic solution.
Key characteristics of Block R
Three factors make Fortuna a simple and straightforward project: the composition of the gas, the world-class reservoir and the calmness of the ocean.
- Dry, 99.7% pure methane gas
- All reservoir gas needs a degree of cleaning after extraction, but Fortuna’s gas, at 99.7% methane, and with virtually zero condensate or contaminants, will require minimal processing aboard the Gandria. This means utilising simple gas-to-LNG processing requirements and therefore contributes to the low cost nature of the development.
- World-class reservoir
- The reservoir rock is both porous and permeable which allows the gas to flow easily and swiftly. It’s also a relatively shallow reservoir. These factors combined mean the number of wells required for development are reduced, further helping to reduce costs.
- Benign metocean conditions
- The ocean conditions in the Gulf of Guinea are exceptionally calm which makes it an ideal location for Floating LNG. In addition it makes side-by-side offloading achievable which will contribute to high uptime.
These characteristics make FLNG the preferred option for commercialisation providing a low cost, quick to first gas solution for Fortuna using proven technology.
In addition there are other factors which give the team at Ophir confidence in the delivery of the Fortuna project:
- As announced in November 2016, Ophir will be forming a new Joint Operating Company with OneLNG (A joint venture between subsidiaries of Golar LNG Limited and Schlumberger) to develop the Fortuna project. This combines Ophir’s upstream expertise with Golar’s FLNG technology and Schlumberger’s technical knowledge, providing a framework to promptly deliver a fully financed project;
- The Gandria will be a converted tanker, not a new build vessel. This represents a major capital saving, and less demanding fit-out schedule in the yard;
- The location of the Fortuna Field means its gas can be marketed to both Asian and European buyers, giving us a broad choice of customers; and
- Ophir has a team of individuals working on the project with depth and breadth of experience.