I notice he is giving a speech in Aberdeen on Tuesday 6th May at 14.05 - 14.30. "Unlocking Offshore Heavy Oil - A Case Study of the Bentley Field, UKCS Block 9/3b Barny Brennan, Xcite" http://www.spe-uk.org/aberdeen/wp-content/uploads/2014/04/SPE-Review-April14-web.pdf Can't have too much publicity:) Maybe we have something to shout about!
It's all kicking off over there. Seems the BOD need to have some answers for share holders. More negatively for AIM oilies. Skierpaul caught up in the mess - seems he sold XEL at a loss to buy there. Never fancied it myself - happy to invest in the North sea
AMEC want to be embedded in the Bentley development - either in partnership with XEL or (perhaps more importantly), with a view to securing long term lucrative contracts if the asset is sold IMO. Also interesting to note there is an exclusivity clause in the MOU with Teekay - looks like they don't want anyone else muscling in either.
Statoil were going to throw billions at the field. Now XEL has shown them they can proceed for a mere $700m and have demonstrated how low the break even point per barrel is. There must be some brass is this field.
RE: Great boost
Chappi - you are certainly on a roll at the moment - well done with your research
As the Bressay development will almost certainly be a mirror image of the Bentley FDP. The service companies will see that working on Bentley will get them a foot in the door to work on the statoil fields. There is lots of heavy oil left to extract in the North Sea and these companies must see the opportunity here.
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