Ophir Energy reports 'considerable progress' in Equatorial Guinea

20th Feb 2014 07:05

Ophir Energy has signed a letter of intent with Petrofac to provide services as operator of the proposed gas development on its gas resources in Equatorial Guinea. The services are set to include preparing and issuing the Field Development Plan for the project and co-ordination of the interface between the upstream and midstream elements of the development. The provision of services is conditional on a binding agreement being reached between Ophir and Petrofac, it added. The group also announced it was evaluating a shortlist of proposals from floating LNG (FLNG) vessel providers for the preferred midstream solution for the development. Alongside the Ministry of Mines, Industry and Energy, Ophir is planning to execute a memorandum of understanding with the preferred FLNG vessel provider on completion of the process.Chief Nick Copper said Ophir was making "considerable progress" in commercialising the gas resource. He added: "The proposed FLNG project has received strong support from the government and we look forward to communicating to the market further progress through the year as the project gathers momentum."NR