Ophir Energy Plc Award of Upstream Construction Contracts (3347S)
02 Oktober 2017 - 8:00AM
UK Regulatory
TIDMOPHR
RNS Number : 3347S
Ophir Energy Plc
02 October 2017
2 October 2017
Ophir Energy plc
("Ophir")
Award of Upstream Construction Contracts for the Fortuna FLNG
Project
Ophir Equatorial Guinea (Block R) Ltd, a 100% owned subsidiary
of Ophir, has awarded the upstream construction contract for the
Fortuna FLNG Project to Subsea Integration Alliance, which is a
partnership between OneSubsea, a Schlumberger company, and Subsea
7.
The contract is structured as an engineering, procurement,
construction, installation and commissioning (EPCIC) contract for
the subsea umbilicals, risers and flowlines and for the subsea
production systems scope of work.
The scope of the EPCIC is to deliver 440 million standard cubic
feet per day of gas through infrastructure comprising four wells (3
into the Fortuna field and 1 into the underlying Viscata field)
located at an average water depth of 1,790 metres.
The EPCIC schedule is consistent with the planned delivery of
first gas in 2020 and work will commence at Final Investment
Decision (FID).
As part of the Shareholders' Agreement announced in November
2016, at FID Ophir Equatorial Guinea (Block R) Ltd will become a
wholly-owned subsidiary of the Fortuna JV (comprising Ophir and
OneLNG).
Nick Cooper, Chief Executive of Ophir, commented: "With the full
suite of upstream and midstream construction contracts now awarded
this completes another milestone to FID. The government is a key
stakeholder in the Fortuna project and I am pleased that the local
content requirements in these contracts will help to further
develop the state of Equatorial Guinea. Fortuna, West Africa's
first deepwater FLNG Project, is expected to FID before the end of
2017."
For further enquiries please contact:
Ophir Energy plc + 44 (0) 20 7811 2400
Nick Cooper, CEO
Tony Rouse, CFO
Geoff Callow, Head of IR and Corporate Communications
Brunswick (PR Adviser to Ophir) +44 (0)20 7404 5959
Patrick Handley
Wendel Verbeek
About Ophir:
Ophir Energy is an independent Upstream oil and gas exploration
and production company focused on Africa and Asia. It is listed on
the London Stock Exchange (LEI: 213800LAZOZTKPAV258).
About the Alliance:
Subsea Integration Alliance is a worldwide non-incorporated
partnership between OneSubsea, a Schlumberger company, and Subsea 7
S.A. developed to jointly design, develop, and deliver integrated
subsea development solutions through the combination of subsurface
expertise, subsea production systems (SPS), subsea processing
systems, subsea umbilicals, risers and flowlines systems (SURF),
and life-of-field services. Its goal is delivering complementary
technology and expertise that help customers extend field life and
lower production costs, ensuring greater certainty of recovery and
ROI.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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