Ophir Energy, busy pushing on with its pioneering Fortuna (SEN, 32/8) FLNG Block R project offshore Equatorial Guinea, expects to have farm-in deals done with potential new partners before it takes a final investment decision (FID) mid-2016.

With an estimated gross investment of $800 million for the development by the time of first gas, Ophir wants to sell down its current 80% operated stake in the block so that the entire cost of the project is funded by the sales proceeds.

In its results presentation last week Ophir stated, “The next milestones will be securing gas buyers and equity partners. Processes for both of these have commenced with the aim of signing agreements ahead of the FID. Ophir’s plan is to utilise our high-equity position in the Fortuna FLNG project to enable farm-downs such that, the project funds itself to first gas.”

It added that it was “encouraged by the levels of interest at this early stage.”

In July, the operator confirmed that the Fortuna FLNG project had entered the FEED stage, with the competitive process involving two consortia.

The FEED is expected to take nine months, and the two consortia will then enter bids for an engineering, procurement, construction, installation and commisioning contract that will deliver the installed subsea systems.

With the FID expected mid-2016 and first gas mid-2019, Ophir said the FEED process will provide better definition of the costs to first gas, with the current estimates at about $800 million (gross).

Golar LNG was earlier this year appointed as the midstream provider and will supply a 2.2 million tonnes per annum vessel (the Gimi) in return for a liquefaction tariff. The selected concept will utilise a retrofitted LNG carrier vessel, with the associated processing facilities for handling the near pure methane produced from the reservoir. The plan envisages a production plateau of about 9.3 MMcm/d for more than 30 years.

Ophir also is evaluating the feasibility of commissioning a second vessel to come onstream in the middle of the next decade. It added that initial screening “suggests that this would not materially increase project capital or operating costs but would significantly advance project cash flows, making it value accretive.”

Elsewhere in the world, Ophir said it has been “actively reloading” its exploration portfolio during the past 12 months, with the company completing the acquisition of four deepwater exploration production-sharing contracts in Eastern Indonesia earlier this year; Ophir did not give further details.

In East Africa’s Tanzania, it has a 20% nonoperated interest in blocks 1 and 4. The blocks partners BG Group, Pavilion Energy and Ophir continue to make progress with pre-FEED and concept selection activities, said the latter. An independent audit confirmed gross contingent (2C) resources to be in excess of 424 Bcm. A joint-project team, in collaboration with the Block 2 partners (Statoil and Exxon), is conducting pre-FEED studies for the Tanzania onshore LNG project. The formal award of the land for the site of the proposed LNG plant is the next milestone that will enable the project to gather momentum, Ophir said.

During first-half 2015, Ophir also gave notice of its intention to relinquish the Block 3, East Pande and Block 7 licences off Tanzania.