Ophir Energy Plc Fortuna FLNG Project Update (5770Z)
18 December 2017 - 6:00PM
UK Regulatory
TIDMOPHR
RNS Number : 5770Z
Ophir Energy Plc
18 December 2017
18 December 2017
Ophir Energy plc
("Ophir")
Fortuna FLNG Project Update
The following is an update on the status of the Fortuna FLNG
project ("the Project"), Equatorial Guinea.
Further to the release on 23 November, Ophir, together with its
partners in the Project, have decided to prioritise one of the
alternative funding solutions that would see a leading Asian bank
provide funding of up to $1.2bn, on similar commercial terms to
those agreed earlier this year with the group of three Chinese
banks. These discussions are at an advanced stage and whilst
significant progress was made towards closing out the financing in
December, it has not proven possible in the limited time available.
These discussions are now continuing into the New Year. Upon
confirmation of the financing the Project will proceed to a Final
Investment Decision.
Furthermore, Ophir is collaborating with OneLNG to confirm a
prompt start to Fortuna Project.
Nick Cooper, Chief Executive of Ophir, commented: "We are now
focusing our efforts on closing out the prioritised solution and
remain confident of commencing the Fortuna project in early
2018."
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).
This information is provided by RNS
The company news service from the London Stock Exchange
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