Fortuna, Equatorial Guinea's FLNG project, has moved one step closer to going online with all parties involved signing the umbrella agreement this week in Malabo
This agreement puts in place the legal and fiscal framework for the venture, and it was signed by the government of Equatorial Guinea, Ophir Energy, One LNG and GEPetrol. This paves the way for the final investment decision on the project, which is now expected by the middle of this year. This comes as welcome news for all parties after
In a statement, the stakeholders confirmed that the construction tender process was "on schedule" and that project finance talks with Chinese lenders have progressed to the final documentation stage.
Gabriel Mbaga Obiang Lima said the agreement is "in line with the government's objective to deliver important projects" for monetising the country's gas resources, boosting local content and bringing "world class petroleum technology to Equatorial Guinea".
Read more on Equatorial Guinea and its oil and gas future here.