LONDON (Alliance News) - Oil and gas explorer Ophir Energy PLC on Monday said it has signed heads of terms with US oil services group Schlumberger Ltd to be its upstream partner on the Fortuna floating liquefied natural gas project in Equatorial Guinea.
FTSE 250-listed Ophir said Schlumberger, subject to the agreement being definitively agreed and to government approval in Equatorial Guinea, will get a 40% economic interest in the project.
Ophir said it expects the final deal, on which no financial details were provided, to be signed in the second quarter of 2016.
Ophir also released a short trading update, with its production for 2015 averaging 13,000 barrels of oil equivalent per day for the year, ahead of guidance after its Bualuang and Sinphuhorm fields in Thailand performed ahead of budget.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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