Ophir scales back offshore license interests

Ophir Energy has exited four production-sharing contracts, as part of a portfolio rationalization exercise.

Offshore staff

LONDONOphir Energy has exited four production-sharing contracts, as part of a portfolio rationalization exercise.

These are DW2A PSC offshore Malaysia and the Mbeli, Ntsina and Gnondo PSCs in Gabon.

On the plus side, the company has so far been awarded interests in a license forblock 5 offshore Mexico and block 24 offshore Equatorial Guinea (subject to negotiation of PSC terms).

For 2017 as a whole, Ophir forecasts capex of $160 million, including the already drilled Ayame-1 exploration well off Côte d’Ivoire; progressing theFortuna FLNG project off Equatorial Guinea to a final investment decision; the Bualuang infill drilling campaign offshore Thailand; and Mexico seismic.

07/12/2017

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