Ophir and OneLNG to form a Joint Operating Company to develop Fortuna FLNG Project - Seite 2

"Ophir's committed future expenditure to first gas will not exceed $150 million and certain other commercial exposures have been limited. We will now be able to advance the project while preserving our balance sheet strength."

Jeff Goodrich, CEO of OneLNG commented: "OneLNG was formed to provide an integrated approach to operators to reduce risk and costs and accelerate the time to monetize stranded gas reserves, and thereby transforming the economic viability of such projects. We are pleased to sign a shareholders' agreement with Ophir for the formation of the Fortuna JOC.  We look forward to working with Ophir and all of the other stakeholders to deliver OneLNG's and Africa's first deep-water FLNG project."

1 - Except in a higher price environment.

About OneLNG:

OneLNG is joint venture between Golar LNG Limited and Schlumberger to rapidly develop low cost gas reserves to LNG. The combination of Schlumberger reservoir knowledge, wellbore technologies and production management capabilities, with Golar's low cost FLNG solution offers gas resource owners a faster and lower cost development solution that increases the net present value of their asset.

About Ophir:

Ophir Energy is an independent Upstream oil and gas exploration and production company focused on Africa and Asia. It is listed on the London Stock Exchange.

FORWARD LOOKING STATEMENTS

This press release contains certain forward-looking statements concerning future events and Golar's operations, performance and financial condition. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words "believe", "anticipate", "expect", "estimate", "project", "will be", "will continue", "will likely result", "plan", "intend" or words or phrases of similar meanings. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond Golar's control. Actual results may differ materially from those expressed or implied by such forward-looking statements.  Important factors that could cause actual results to differ materially include, but are not limited to, those factors listed from time to time in the reports and other documents Golar files with the United States Securities and Exchange Commission.