Ophir Energy
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| Public limited company | |
| Traded as | : |
| Industry | Oil & Gas exploration |
| Founded | 2004 |
| Headquarters | London, United Kingdom |
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Key people
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Nicholas Smith (Chairman) Nicholas Cooper (Chief Executive Officer) |
| Revenue | $161.1 (2015) |
| $(368.8) million (2015) | |
| $(322.5) million (2015) | |
| Website | www |
Ophir Energy plc (: ) is an oil and gas exploration & production company based in London which owns both operating and non operating assets in Africa, Asia, and Mexico. Ophir was listed on the UK at two pounds fifty in 2011 and hit a peak of six pounds in later years after discovering 20 TCF of gas in Equatorial Guinea and Tanzania.
The company was founded by Alan Stein and Jonathan Taylor in 2004 with backing from Tokyo Sexwale. It was listed on the in July 2011. In March 2014, Ophir Energy sold its 20 percent stake in its Tanzanian assets for around $1.2 billion to Pavilion Energy.
On 2 March 2015 Ophir Energy's $492 million purchase of Salamander Energy was finalized. The acquisition made Ophir not only able to extending its operations into regional Southeast Asia but also helping the company to create long term sustainability program to support its exploration activities.
Originated as an oil exploration company, the company successfully drilled wells containing oil and gas which are mostly located in Western and Eastern Africa. As of July 2017, the company has oil and gas projects in Africa (Equatorial Guinea, Gabon, Tanzania), Asia (Myanmar, Thailand, Indonesia and Malaysia), and Mexico.
The company owns Fortuna FLNG (Floating Liquified Natural Gas) project in Equatorial Guinea , the first of its kind in Africa, which is due to produce its first gas in 2020, a planned LNG Facility project in Tanzania with Tanzanian Government and other energy firms which include BG Group (a division of Royal Dutch Shell), Statoil, and Exxon Mobil. The company began expanding into Asian market in 2015 with the acquisition of Salamander Energy and currently holds both exploration acreages and production assets in Southeast Asia with growing presence notably in Thailand and Indonesia.
However, in 2017 the company has conducted massive layoffs to its workforce with addition to restructure the organization in an attempt to survive harsh market conditions, as well as to retain all competencies essential to the delivery of its core projects, including the remaining workstreams required to secure the FID of Fortuna, to undertake the expansion of the Asian production base and to operate Ophir’s exploration portfolio.
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