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>

<< Mar 2019 >>
MTWTFSS
25 26 27 28 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

6th Mozambique Gas Summit & Exhibition

The CWC Group and ENH would like to thank all attendees, speakers, sponsors and exhibitors…

read more >

LNG2019

LNG2019 is presented by the IGU, GTI and IIR, supported by the Shanghai Government and hosted by China LNG Association, China Gas Society, The Chinese Association of Refrigeration and China Gas Association.

read more >

CWC World Gas & Power Series – Brazil & the Americas Summit

Meet with the Gas, LNG & Power Industry in Brazil & the Americas

read more >

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >