December 16th , 2014 → 12:13 pm @

South Korean shipbuilder Samsung HI (SHI) has confirmed its involvement in a front-end engineering design (FEED) project. Photo: PA

EQUATORIAL GUINEA: South Korean shipbuilder Samsung HI (SHI) has confirmed its involvement in a front-end engineering design (FEED) project to construct a floating LNG (FLNG) vessel with US-based Excelerate Energy, an LNG production systems specialist, in Equatorial Guinea.

Through a Korea Exchange filing on 11 December, SHI said: “Regarding the project worth $2Bn to build FLNG in Equatorial Guinea, we will negotiate the scope of work and conditions of contract for basic design.”

Excelerate announced on 6 November that it has executed an agreement with the Government of Equatorial Guinea and UK-based Ophir Energy for the provision of a floating liquefaction storage and offloading (FLSO) vessel.

The project, named Fortuna FLNG, will be located at Block R, approximately 140km off the coast of Bioko Island, Equatorial Guinea, which is owned 80% by Ophir and 20% by GEPetrol, Equatorial Guinea’s national oil company.

According to Excelerate Energy, first gas is expected in 2019 and the project is expected to produce up to 3M tonnes of LNG per annum for a period of 20 years.

 


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