BMI View: Maturing fields and a lack of new significant discoveries will continue to push oil productionvolumes to the downside over our forecast period to 2026. Ophir's Fortuna FLNG project provides the mostimportant boost to the country's gas production and net exports over the coming years. While the companytargets a FID by H217, it has achieved significant cost-reductions and should be online by 2020.
Latest Updates And Key Forecasts
The country officially launched a new deepwater licensing round in June 2016 for 17 remainingdeepwater and ultra-deepwater blocks. It received expressions of interest from 23 companies and bidsfrom 12 companies. The six winners of the round were announced in June 2017, with ongoingnegotiations in the summer of 2017. The aim is to sign the six new production sharing contracts in the fallof 2017 with PSC ratification by the end of 2017.