4th Mar 2020 14:06
(Alliance News) - BowLeven PLC on Wednesday said it has hired TechnipFMC PLC as lead front end engineering design contractor at the proposed development of the Etinde natural gas and condensate field in Cameroon.
Oilfield services company TechnipFMC will work alongside, and report to, the integrated joint venture partner operations team to lead the onshore and offshore elements of the FEED programme in respect of the development, BowLeven said.
In 2018, BowLeven made new discoveries at Etinde during drilling, with operations currently focused on analysing data collected and carrying out engineering designs for various development options.
The initial phase of the development comprises an onshore gas processing, storage and export facility linked to an unmanned well head platform with associated pipeline infrastructure.
"The award of a lead FEED contractor is a significant milestone for the joint venture partners, as we look to make a final investment decision on Etinde in 2020. We are excited about our plans for the initial phase of the proposed development and look forward to working with Technip to finalise our development concept for the field over the coming months," said BowLeven Chief Executive Eli Chahin.
New Age Cameroon Offshore Petroleum SA is the operator of the Etinde field, with a 37.5% working interest. Bowleven and Russia's PJSC Lukoil Oil Co are partners with a 25% and 37.5% working interest respectively.
Bowleven shares were trading 2.7% lower at 6.06 pence each on Wednesday afternoon in London. Shares in TechnipFMC were up 1.7% at USD14.60 in pre-market trading in New York on Wednesday.
By Ife Taiwo; [email protected]
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