Equatorial Guinea’s Ministry of Mines and Hydrocarbons has notified Ophir Energy that it will not gain an extension for the offshore Block R license. The block contains the deepwater Fortuna gas discovery. Ophir had been seeking to develop the gas using a Golar-converted floating liquefied-natural-gas (LNG) vessel, but failed to secure sufficient financial backing for the project. Front-end engineering design had begun in July 2015. Targeted production was approximately 330 MMcf/D, with a plateau of 30 years. Located approximately 140 km west of Bioko Island, the Fortuna project was to see development of six commercial discoveries in a phased manner. In November 2016, the British oil and gas company created a joint operating company with OneLNG to develop the floating LNG project at the Fortuna gas discovery.
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