Equatorial Guinea: Schlumberger pulls out of Fortuna FLNG

Issue 323 - 13 May 2016 | 2 minute read
Schlumberger has pulled out of Ophir Energy’s Fortuna floating liquefied natural gas project after failing to agree terms, but Ophir says it is in talks with other potential partners and expects a final investment decision (FID) in Q4 this year.Ophir announced a non-binding heads of terms agreement with Schlumberger in January for upstream participation. Ophir said Schlumberger had completed technical due diligence but the companies had been unable to finalise the transaction.

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