TechnipFMC Wins Etinde FEED Contract

TechnipFMC an EPC company has been awarded a front end engineering design (FEED) contract for the development of the offshore IM gas condensate field at Etinde by Cameroon government. The Etinde Permit a formerly Block 7 lies in shallow water in the Rio del Rey Basin, offshore Cameroon, and comprises four proven reservoir intervals within the Pliocene and Miocene formations. TechnipFMC will work alongside and report to the operator to lead the onshore and offshore elements of the FEED program in respect of the proposed development – this is Based on disclosure made available by Bowleven, a partner in the New Ageoperated
offshore development. The reservoir engineering and subsurface development aspects of the wider FEED process will be undertaken by the operator. The initial phase of the development concept proposed by the JV partners comprises an onshore gas processing, storage and export facility linked to an unmanned wellhead platform with associated pipeline infrastructure. “The award of a lead FEED contractor is a significant milestone for the JV 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 finalize our development concept for the field over the coming months. “ Eli Chahin, Chief Executive Officer of Bowleven plc, said. Recently New Age, as the operator of Etinde, signed a letter of intent with Victoria Oil & Gas for the supply of gas from the field and according to the letter of intent, Bowleven, a partner in the Etinde field, suggests that New Age will supply processed gas to Gaz du Cameroun S.A. (“GDC”), a wholly-owned subsidiary of Victoria Oil & Gas Plc, at Limbe. GDC would then transport the gas to Douala. The gas sales agreement is expected to last for 20 years and with New Age supplying a minimum of 25mmscf per day of gas to GDC for the first three years, and further supply to reach a minimum of 30mmscf per day. The signature of a gas sales deal is expected by March 31, 2021 while a Final Investment Decision(FID) is being made for the Etinde field development Bowleven said in accordance to the letter of intent. New Age is the operator of the project with a 37,5% stake. The other partners are Lukoil (37,5%), and Bowleven (25%). According to info on New Age’s website, the first production from the field could be expected in 2022.

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