Fortuna, Equatorial Guinea

The Fortuna FLNG development will be Africa’s first deepwater independent FLNG project. The project entered FEED in July 2015 and FID is expected once the financing solution has finalised with the first production forecast for 2021. The field is expected to produce 2.2mmtpa and Ophir currently has an 80% working interest.

Fortuna, Equatorial Guinea

Ophir has an 80% operated interest in Block R to the west of Bioko Island in water depths of up to 1,950m.


Key highlights

  • Fortuna-2 DST flowed gas to surface at a constrained rate of 60 MMscfd, exceeding expectations. The implied unconstrained rate was 180 MMscfd which will reduce the number of development wells required
  • Gas fiscal terms agreed with the Government of Equatorial Guinea
  • Ophir and OneLNG agreed to form a Joint Operating Company ("JOC") to facilitate the financing, construction, development and operation of the integrated Fortuna project and, from Final Investment Decision ("FID"), the JOC will own Ophir's share of the Block R licence and the Gandria FLNG vessel
  • Umbrella Agreement signed
  • Gunvor announced as preferred LNG buyer
  • Expected plateau production rate of 330 MMscfd


  • Close out the debt facility to enable FID
  • First gas expected 2021


expected production from the field


Ophir's current working interest.

Fortuna sits within the Block R licence, offshore Equatorial Guinea which is located in the south-eastern part of the Niger Delta complex. Ophir holds an 80% operated interest in Block R. There have been six commercial discoveries to date in Block R, five of which were made by Ophir. There is a total of 3.0 Tcf of independently certified 2C contingent resource and another 0.7 Tcf of low risk prospective resource in Block R making a total of 3.7 Tcf (at November 2015) for the project planning case.

A Floating LNG development concept was selected because the gas discovered in Block R is around 99% methane with no contaminants or heavier hydrocarbons and therefore very little topside processing is required. In addition, the benign metocean conditions and proximity to European LNG markets make the FLNG concept the appropriate development option. Utilising a Golar owned LNG tanker, the Ghandria which will be converted into a Floating Liquefaction, Storage and Offloading vessel, makes the project low cost and quick to first gas. The low cost of the development ensures the project can compete with US Gulf Coast Exporters.

The project entered FEED in July 2015 and FID is expected as soon as the financing solution is finalised with first gas in 2021. Ophir is working closely with OneLNG, its project partner, to meet this timeframe. Production is expected to be around 330 MMscfd with a plateau of 30 years.