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Monday, September 18, 2017
Ophir Energy in its H1 2017 results report said that the FID for its Fortuna FLNG project in Equatorial Guinea remains a priority. The project made significant progress in H1, with the project financing remaining as the only “primary milestone” outstanding, according to company CEO Nick Cooper.
“Our priorities in 2017 are achieving the Fortuna FLNG Project FID and realizing incremental value across our operated production base. Fortuna has made significant progress in the first half of 2017 and now has one primary milestone outstanding: namely the project financing. Once this is achieved, we will seek shareholder approval and the formal decree from the President of Equatorial Guinea,” Cooper said in the results report.
The company signed an Umbrella Agreement with the government of Equatorial Guinea during the period, and post period end Ophir and its partners nominated Guvnor as the buyer for the LNG produced.
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