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Friday, February 21, 2014
Ophir Energy has signed a non-binding LoI with Petrofac that would have the service company appointed as Development Operator for the proposed gas development offshore Equatorial Guinea. Petrofac’s services are envisaged to include, among other activities, preparing and issuing the Field Development Plan for the project and the coordination 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.
In order to finalize the preferred midstream solution for the proposed gas development, Ophir has held discussions with a number of FLNG vessel providers. The company has received several proposals, a number of which have now been shortlisted for further assessment with a non-binding LoI signed in Singapore with the counterparties involved.
The Ministry of Mines, Industry and Energy and Ophir are reviewing the competing proposals and are planning to execute a MoU with the preferred FLNG vessel provider on completion of this process.
Nick Cooper, CEO, commented: “The company is making considerable progress in commercializing the gas resource we have proved up to date in Equatorial Guinea. 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.”
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