Equatorial Guinea, expected to bring one of the continent’s first Floating LNG units in production, is now working to develop other offshore assets using the same technology.
Namely, OneLNG, a company developing Fortuna FLNG project with Ophir Energy offshore Equatorial Guinea, on May 29, entered into a binding memorandum of understanding with the energy ministry of Equatorial Guinea to further explore the liquefaction and commercialisation of natural gas.
Under the agreement, the company recently established as a Schlumberger-Golar joint venture will focus its efforts on Blocks O and I offshore Malabo.
According to Golar LNG, agreement terms between E. Guinea – a new OPEC member – and OneLNG place obligations on both parties to find a technical and commercial solution to monetize gas that is either stranded or being re-injected in liquids production.
That commercial solution is to include the provision of an FLNG vessel, associated infrastructure and the creation of an LNG sales vehicle.
Golar LNG further said the parties seek to reach definitive agreements to proceed by December 2017 but no later than December 2018. In addition to this, OneLNG is also working on 3-4 additional projects, each involving one or more FLNG unit, Golar LNG said.
Offshore Energy Today Staff