Insufficient reserves may derail Chinese offshore operator CNOOC Ltd’s plan to deploy a floating liquefied natural gas vessel to a deep-water block in Gabon.

At least three people familiar with the latest development plan for Block BCD-10, located 145 kilometres off the Gabon coast, told Upstream that the economics currently do not justify the deployment of an FLNG vessel.

They cited the reserve size as insufficient to warrant immediate development, suggesting that the operator may drill additional appraisal wells before reassessing the plan.