Schlumberger will reimburse 50% of Ophir's past costs in the form of a development carried interest, which will cover Ophir's share of capex up to first LNG. This will give Schlumberger a direct interest in the field cash flow, though it will not take equity in the PSC contract. Instead it will have limited liabilities under a service contract. A non-binding Heads of Terms Agreement was signed, with a definite agreement due to be completed in Q2 2016. In a related announcement on January 22nd, Golar and Schlumberger announced an MOU to co-operate in the marketing of FLNG solutions to holders of stranded gas reserves. The deal greatly improves the probability of the project achieving FID in 2016.
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Deal insight | Jan 2016
Schlumberger acquires a 40% interest in Fortuna FLNG from Ophir Energy
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