IFA Magazine: Ophir agrees on terms for gas project in Equatorial Guinea

Africa-focused oil and gas group Ophir Energy has agreed on fiscal terms with the government over its Block R gas production sharing contract (PSC) in Equatorial Guinea, Africa’s first floating liquefied natural gas (FLNG) project.

Ophir, which is the operator of Block R with an 80% stake, said it has established gas fiscal terms within the PSC and a fiscal framework for the FLNG operation.

The amendment should be signed later on Tuesday by Ophir, 20% equity partner GEPetrol, and the Ministry of Mines, Industry and Energy.

Ophir said that the agreed terms provide a ‘robust, transparent financial framework’ for Block R, which is estimated to contain recoverable resources of 3.4trn cubic feet of gas.
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