LNG

July 12 (LNGJ) - Ophir Energy of the UK said it was prioritising the Fortuna Floating LNG project offshore Equatorial Guinea even as it further reduced the company’s underlying cost base in recognition of limited signs of an oil price recovery and lower exploration activity. “Ophir’s discretionary spend will be paced to preserve balance sheet capacity, thereby prioritising the Fortuna FLNG project and the expansion of Ophir’s Asian producing assets,” the company said. Nick Cooper, Chief Executive of Ophir, commented: “We are closing in on the Fortuna Project final investment decision to start the monetisation of a substantial portion of Ophir’s resource base.”