Oilfield services giant TechnipFMC has won a front end engineering design (FEED) contract for the development of the offshore IM gas condensate field at Etinde, Cameroon.
The Etinde Permit (former 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.
According to Bowleven, a partner in the New Age-operated offshore development, 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.
The reservoir engineering and sub-surface development aspects of the wider FEED process will be undertaken by the pperator.
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.
Eli Chahin, Chief Executive Officer of Bowleven plc, said: "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."
Last month, New Age, as the operator of Etinde, signed a letter of intent with Victoria Oil & Gas for the supply of gas from the field.
According to Bowleven, a partner in the Etinde field, the letter of intent envisages 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 would be valid for 20 years and would see New Age supply a minimum of 25mmscf per day of gas to GDC for the first three years, increasing to a minimum of 30mmscf per day.
Bowleven said the letter of intent remains in force until the signature of a gas sales deal, expected to occur by March 31, 2021. The finalization of the proposed deal is subject to a Final Investment Decision being made for the Etinde field development.
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.