Offshore staff
EDINBURGH, UK – Bowleven has issued an update on the Etinde gas development offshore Cameroon.
Following the appointment of TechnipFMC as lead contractor, FEED work continues along with field optimization and commercial discussions.
Etinde’s financing will likely involve a combination of senior project finance debt, vendor financing supplied by contractors, offtakers, and likely equity.
The next stage will be to prepare the field development plan, preliminary information memorandum and lender due diligence reports, ahead of finance discussions.
Operator New Age and its partners are assessing various commercial options for gas offtake and condensate marketing.
Due to COVID-19 work restrictions, Bowleven now expects the partners to take their final investment decision in mid-2021.
10/08/2020
