Ophir Energy books $310M charge on Fortuna gas project, unveils cost cuts
9/13/2018
(Reuters) - Ophir Energy has written down the value of its struggling Equatorial Guinea natural gas project by $310 million, it said, while also announcing plans to cut jobs in London and move its headquarters to Asia to lower costs.
The company had said last week that it was “cautiously optimistic” of meeting a looming deadline for a final investment decision and save its stalled Fortuna FLNG project.
![]() |
MAP SOURCE: EWA |
The liquefied natural gas project in Equatorial Guinea, bogged down by delayed financing, ran into further trouble in May when U.S. oil services company Schlumberger pulled out of the venture. (Reporting by Shashwat Awasthi in Bengaluru; Editing by Sai Sachin Ravikumar)
Sign up to Receive Our Newsletter

- Three killed, two injured in accident at LNG construction site in Texas (U.S.)
- Update: How Germany is building up LNG import terminals
- IEEFA: Europe’s LNG imports decline 19% with gas demand at 11-yr low
- TotalEnergies and partners launch the 2nd phase of Northern Lights CCS project
- Digital Exclusive: The value of experience—Why expertise matters in compressor overhauls and revamps
Comments