Deal Insight
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.
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- Road to FID
- Deal analysis
-
Upsides and risks
- Upside
- Risks
-
Strategic rationale
- Ophir
- Schlumberger
- Oil & gas pricing and assumptions
Tables and charts
This report includes 7 images and tables including:
- 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
What's included
This report contains:
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