Fortuna FLNG

The Fortuna FLNG is a game-changing project for Equatorial Guinea, and is set to become Africa’s first deepwater FLNG project after the partners cleared the way to reach final investment decision by mid-2017. The $2 billion FLNG project, spearheaded by OneLNG (66.2%) and Ophir Energy (33.8%) is on track for first gas in 2020. The partners in Fortuna created a joint operating company to develop the Upstream and Midstream project for deepwater gas in Equatorial Guinea’s offshore Block R in November 2016. The recent signing of the Umbrella agreement between the partners, the Government of Equatorial Guinea and State national oil company GEPetrol in May marks a key milestone for the project, confirming participation of the government across the project value chain. GEPetrol, the state-owned oil company, will be a 20 percent stakeholder in the upstream phase of Fortuna, and the state will also have a potential ownership of 30 percent of the midstream FLNG vessel in the future. Final investment decision is targeted for mid 2017.

Join the conversation on Capital Raising and the Gas Industry at the AOP Investor Forum in London, May 10, 2018