While the capex reduction is good news, the withdrawal of Schlumberger hurts the credibility of the project. Ophir indicated that other sources of financing are available (including alternative farm-in partners) but some of the Company balance sheet could also be applied to the project. While Ophir might disagree, we would feel much more comfortable with the project if the Company could secure a strong technical partner with FLNG experience. In the absence of such, we continue seeing executio
29 Apr 2016
NO DEAL WITH SCHLUMBERGER AT FORTUNA FLNG IN EG HURTS THE CREDIBILITY OF THE PROJECT
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NO DEAL WITH SCHLUMBERGER AT FORTUNA FLNG IN EG HURTS THE CREDIBILITY OF THE PROJECT
- Published:
29 Apr 2016 -
Author:
Stephane Foucaud -
Pages:
3
While the capex reduction is good news, the withdrawal of Schlumberger hurts the credibility of the project. Ophir indicated that other sources of financing are available (including alternative farm-in partners) but some of the Company balance sheet could also be applied to the project. While Ophir might disagree, we would feel much more comfortable with the project if the Company could secure a strong technical partner with FLNG experience. In the absence of such, we continue seeing executio