Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Ophir Seeks Partners for $3.5 Billion LNG Project in West Africa

Jan. 28 (Bloomberg) -- Ophir Energy Plc is seeking partners to share costs in its $3.5 billion floating liquefied natural gas project off Equatorial Guinea.

Ophir plans to invest about $200 million to explore for additional gas off the West African nation, said Chief Executive Officer Nick Cooper. The company, based in London, needs to increase resources by about 15 percent to 3 trillion cubic feet to support construction of a floating plant with capacity of 2.5 million tons a year.

“Commercially that’s probably the biggest swing patch in our portfolio for 2014,” the CEO told investors during a webcast presentation today, referring to the project. “The rest is exploratory.”

The company, which plans to invest about $500 million this year, expects to ship the first fuel from Equatorial Guinea in 2018, at least two years ahead of its project in East Africa’s Tanzania, according to the presentation.

Ophir estimates it will take at least $1 billion to pump the first gas, and as much as $2.5 billion to manufacture the FLNG, according to the presentation. Ophir switched its focus to a floating facility from building an onshore LNG plant in Equatorial Guinea after finding reserves last year.

To contact the reporters on this story: Eduard Gismatullin in London at; Benjamin Dow in Moscow at

To contact the editor responsible for this story: Will Kennedy at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.