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Schlumberger acquires a 40% interest in Fortuna FLNG from Ophir Energy

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Report summary

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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    Schlumberger acquires a 40% interest in Fortuna FLNG from Ophir Energy

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Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 7 images and tables including:

Tables

  • Executive summary: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Upstream assets: Table 1

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