Ophir farms-out Equatorial Guinea offshore assets

Ophir farms-out Equatorial Guinea offshore assetsPolar Marquis seismic vessel (Image courtesy of GC Reiber Shipping)

London-based Ophir Energy said it has entered into a farm-out agreement with Kosmos Energy covering the EG-24 exploration license in Equatorial Guinea.

Under the terms of the agreement, Kosmos will acquire a 40 percent non-operated interest in Block EG-24.

In consideration, Kosmos will fully carry Ophir for the cost of a block-wide 3D seismic survey, during the first exploration period of the license, Ophir said in a statement.

Furthermore, Kosmos will partially carry Ophir for the cost of a well if the partners subsequently elect to drill a well in the second period of the licence. Kosmos will also pay its pro-rata share of past costs.

Commencement of the seismic operations conducted by Shearwater is scheduled to begin May 14, 2018, using the Polar Marquis vessel.

Ophir is developing the Fortuna FLNG project in Equatorial Guinea, while Kosmos is expecting to reach a final investment decision on another West African FLNG project it is developing with BP, by the end of the year.

Share this article

Follow LNG World News

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

LNG Bunkering Mediterrean

The only 3-day course offering theoretical and practical training on LNG bunkering designed by the Mediterranean market leaders.   

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

FLNG World Congress 2019

2019 FLNG World Congress will bring together stakeholders across the floating liquefaction value…

read more >