One of Africa's more promising floating LNG (FLNG) projects has suffered a major blow, with oil services giant Schlumberger deciding against taking a 40% stake. Exploratory talks that began in January for Schlumberger to join the Fortuna FLNG project in Equatorial Guinea have ended without agreement, Ophir Energy announced Friday (IOD Jan.26'16). The UK-based independent, operator of the project with an 80% stake, says it is talking to other parties, but it has abandoned hope of reaching a final investment decision (FID) by midyear 2016.
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