I did a year by year analysis based on the RAR figures for both production numbers (table 8-18 - P50) and the bentley crude prices (table 12-1), as I wanted to see what the impact was on revenue on a year by year basis.
You may have been referring to StanleyUK's comment, but that's not what you wrote:
... OGA might be proactive in developing Quad 9 by installing common infrastructure and recovering the cost by a royalty per barrel on the producers who use it?
which is a world apart from assisting operators in marrying a group with a mid-stream infrastructure investor.
Given that drilling for and producing oil is part of the upstream sector, i'm a bit perplexed by this reference to a midstream infrastructure investor. Does it refer to the shared pipeline infrastructure? Was this expected to be a large part of the cost?
Good afternoon HB. Am I reading too much into what has been intimated here? Are people suggesting the OGA might be proactive in developing Quad 9 by installing common infrastructure and recovering the cost by a royalty per barrel on the producers who use it?
I'm not sure about realising their limitations. I think there are a number of discussions going on with OGA and a number of other parties.
Another interesting snippet from the email linked to your comment (the email is quite lengthy so I can't really post it all up here - plus it breaks the rules...) is this, in reply to a question on the OGA role: "OGA will bring Operators together to determine if developments can share common infrastructure, and thereafter if appropriate, assist in marrying the group with a mid-stream infrastructure investor".
OGA have previously talked of identifying a number of financial institutions seeking to invest (I paraphrase as can't access the reports right now), so it appears they are actively participating in securing the infrastructure funding to build the hubs, with Quad 9 being one of its most significant opportunities. I don't think they are passive in this, but naturally, if the various parties aren't interested then it doesn't happen.
As for the bonds, I guess we just cross our fingers and prey! Timelines are slipping, it's in our DNA(!), but I think we will get there soon enough.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.