LNG

Schlumberger leaves Fortuna FLNG

Schlumberger has quit the Fortuna FLNG project in Equatorial Guinea because of problems finding acceptable financing solutions
By Staff reporter 1 June 2018 0 31116

Schlumberger has quit the Fortuna FLNG project in Equatorial Guinea because of problems finding acceptable financing solutions, Golar LNG said on Thursday.

The two companies will dissolve their OneLNG joint venture for the development. Golar said issuing more shares at the company’s current share price was not an attractive financing solution, but added it was exploring the use of alternative shipyards that could provide financing and the potential introduction of a new industrial partner.

Separately, project partner Ophir Energy called Schlumberger’s...