September 5, 2018 / 2:54 PM / in 10 months

Ophir Energy says optimistic can agree Fortuna deal by year-end

CAPE TOWN (Reuters) - Ophir Energy OPHR.L is “cautiously optimistic” it will meet a looming deadline for a final investment decision and save its stalled Fortuna FLNG project in Equatorial Guinea, a senior official said on Thursday.

The pioneering 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 (SLB.N) pulled out of the venture.

“We are continuing to pursue debt financing with Chinese banks and that’s with a view to reaching FID (final investment decision) by the end of 2018,” Oliver Quinn, director of exploration in Africa told Reuters.

He said talks with potential funders were moving along and the company was hopeful it would meet the deadline and salvage the Fortuna project.

Reporting by Wendell Roelf; Editing by James Macharia and Mark Potter

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