Equatorial Guinea: Ophir signs fiscal terms for gas block

Issue 288 - 06 Nov 2014
Ophir Energy has signed an agreement on gas fiscal terms with the Ministry of Mines, Industry and Energy, paving the way for development of Block R (AE 285/17). Minister Gabriel Mbaga Obiang Lima told Global Pacific & Partners’ Africa Oil Week in Cape Town on 4 November that detailed discussions on development would now take place. Nguema Lima said the block contained 3.4tcf of recoverable gas, which would be produced via a 20-well development in four phases, to a floating liquefied natural gas vessel with capacity of 3m t/yr, which will be Africa’s first FLNG project.

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