Bowleven has announced in its preliminary unaudited results for the year ended June 30, the highlights of its program on the Etinde permit, offshore Cameroon, where it has been working to complete the Front End Engineering Design (FEED) study.
The company said that the FEED contract was awarded to Technip in Q1 2020 but commencement was delayed until July 1 due to the impact of the COVID-19 pandemic. This contract focuses on the design and engineering of the onshore gas processing facility, the IM well head platform and the appropriate production and sales pipeline infrastructure.
The FEED is expected to complete in November 2020 and is currently on time and within budget.
Work is also progressing on the sub-surface development plan, including location, number and type of wells required to produce wet gas from IM reservoirs.
Eli Chahin, Chief Executive Officer of Bowleven, said: “Our focus in 2021 will be to work with all of our stakeholders to ensure FID is achieved and underpinned by a compelling development plan, which is suitably robust to secure future capex funding. This combined with a disciplined approach to capital management will ensure that we are able to deliver maximum value for the Company’s shareholders.”
