Block R Licence, Equatorial Guinea

Ophir announces that it has received notification from the Equatorial Guinea Ministry of Mines and Hydrocarbons that the Block R Licence, which contains the Fortuna gas discovery, will not be extended following expiry of the licence on 31 December 2018.

Block R Licence, Equatorial Guinea

Ophir announces that it is still awaiting a response from the Equatorial Guinea Ministry of Mines and Hydrocarbons (‘MMH’) with regards to its request for an extension of the Block R licence.

Fortuna Update

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 FLNG Project Update

The following is an update on the status of the Fortuna FLNG project ("the Project"), Equatorial Guinea.

Fortuna FLNG Project Update

The following is an update on the status of the Fortuna FLNG project ("the Project"), Equatorial Guinea.

Fortuna FLNG Offtake Awarded to Gunvor

The Ministry of Mines and Hydrocarbons (“MMH”), Ophir Equatorial Guinea (Block R) Ltd, OneLNG SA and La Compania Nacional De Petroleos De Guinea Ecuatorial (“GEPetrol”) have nominated Gunvor Group (“Gunvor”) as their preferred LNG Buyer for offtake from the Fortuna FLNG project.

Fortuna update

Ophir announces that further to the signing last week of the Umbrella Agreement for the Fortuna FLNG project, another milestone has been completed with the award of the Midstream construction contracts.

Execution of the Fortuna Umbrella Agreement

The Republic of Equatorial Guinea, Ophir Holdings & Ventures Ltd, a subsidiary of Ophir Energy (“Ophir”), OneLNG SA and La Compañía Nacional De Petróleos De Guinea Ecuatorial (“GEPetrol”) have signed a detailed Umbrella Agreement (“UA”) that establishes the full legal and fiscal framework for the Fortuna FLNG Project, Africa’s first deepwater FLNG project.

Fortuna FLNG update

Ophir provides an update on the project workstreams leading to Final Investment Decision (“FID”) on the Fortuna FLNG Project: