Ophir Energy : Award of Upstream Construction Contracts for the Fortuna FLNG Project

2 Oct 2017

Ophir Equatorial Guinea (Block R) Ltd, a 100% owned subsidiary of Ophir, has awarded the upstream construction contract for the Fortuna FLNG Project to Subsea Integration Alliance, which is a partnership between OneSubsea, a Schlumberger company, and Subsea 7.

The contract is structured as an engineering, procurement, construction, installation and commissioning (EPCIC) contract for the subsea umbilicals, risers and flowlines and for the subsea production systems scope of work.

The scope of the EPCIC is to deliver 440 million standard cubic feet per day of gas through infrastructure comprising four wells (3 into the Fortuna field and 1 into the underlying Viscata field) located at an average water depth of 1,790 metres.

The EPCIC schedule is consistent with the planned delivery of first gas in 2020 and work will commence at Final Investment Decision (FID).

As part of the Shareholders' Agreement announced in November 2016, at FID Ophir Equatorial Guinea (Block R) Ltd will become a wholly-owned subsidiary of the Fortuna JV (comprising Ophir and OneLNG).

Nick Cooper, Chief Executive of Ophir, commented: 'With the full suite of upstream and midstream construction contracts now awarded this completes another milestone to FID. The government is a key stakeholder in the Fortuna project and I am pleased that the local content requirements in these contracts will help to further develop the state of Equatorial Guinea. Fortuna, West Africa's first deepwater FLNG Project, is expected to FID before the end of 2017.'

For further enquiries please contact:

Ophir Energy plc + 44 (0) 20 7811 2400

Nick Cooper, CEO

Tony Rouse, CFO

Geoff Callow, Head of IR and Corporate Communications

Brunswick (PR Adviser to Ophir) +44 (0)20 7404 5959

Patrick Handley

Wendel Verbeek

About Ophir:

Ophir Energy is an independent Upstream oil and gas exploration and production company focused on Africa and Asia. It is listed on the London Stock Exchange (LEI: 213800LAZOZTKPAV258).

About the Alliance:

Subsea Integration Alliance is a worldwide non-incorporated partnership between OneSubsea, a Schlumberger company, and Subsea 7 S.A. developed to jointly design, develop, and deliver integrated subsea development solutions through the combination of subsurface expertise, subsea production systems (SPS), subsea processing systems, subsea umbilicals, risers and flowlines systems (SURF), and life-of-field services. Its goal is delivering complementary technology and expertise that help customers extend field life and lower production costs, ensuring greater certainty of recovery and ROI.

Press release is available to download