Signature of MOU Relating to EG LNG Train 2

Source: www.gulfoilandgas.com 5/3/2011, Location: Africa

Ophir Energy plc (Ophir), an Africa-focused upstream oil and gas company, is pleased to note the announcement released on 21 April 2011 by the Ministry of Mines, Industry & Energy of Equatorial Guinea of the approval and signing of a Memorandum of Understanding (MoU) relating to the commercial structure of the LNG Train 2 Integrated Project in Equatorial Guinea.

The MoU relates to the alignment of the gas producers, the owners of the gas pipeline infrastructure and the owners of EGLNG Train 1 to develop and implement the LNG Train 2 Project (EGLNG2).

Ophir has an established position offshore Equatorial Guinea with an 80% interest as Operator of Block R which covers 1,600km2 and contains the significant gas discoveries Fortuna and Lykos. In 2009 Ophir acquired 1,000km2 3D seismic survey data of the area and has a high impact drilling campaign in place for 2011.


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