London-based Ophir Energy said its Fortuna FLNG project in Equatorial Guinea is “firmly on schedule” for a final investment decision (FID) in the first half of 2017, LNG World News informed.
The announcement came in a trading update mid-January, which noted that Ophir and its partner One LNG “are making good progress against all key milestones.” However, over the past year Fortuna FID has slipped from 2016’s forth quester to 2017’s first quarter, and now to “1H 2017”, Natural Gas World reported.
Ophir and One LNG signed a deal in November 2016 to form a joint operating company (JOC) to develop the Fortuna FLNG project offshore Equatorial Guinea. The total capital expenditure for the project is about $2b to reach first gas, which is expected in the first half of 2020.
Golar LNG and Schlumberger formed One LNG as a 51%-49% joint venture in July 2016 to rapidly develop low-cost gas reserves to LNG. One LNG will have 66.2% ownership in the JOC with Ophir holding the remaining 33.8%.