In his video he has added together Akri-Bijeel apples, oranges and pears, it's just a fruit cocktail that reveals nothing whatsoever. The video by Eminem and Rihanna is more informative about MOL's position regarding Akri-Bijeel IMO
1000 to 5000 is that a lot of shorters actually giving up ? lol or the last of the small PI brigade caving in ? I hope not... when we are so close... cant you taste it ? Sipping Bollinger on a yacht in the Bermuda triangle... moored off shore from Todds holiday pad LOL !!!
...done), and producing and shipping oil without getting paid is a no-no. Gulf has taken punches for things that have not been its fault. No way can the KRG allow itself to be seen as a bad partner which uses shareholders' savings to develop its oil industry, and not pay up in return. Just a matter of time now before things change dramatically, in all probability. Fingers x'd.
Exactly. Strictly speaking, the KRG are in default on the PSC in my opinion. The CPR commented that the KRG may have lost the legal entitlement to the Back-In Rights (though a commercially confidential deal may have been d
its a simple case of promised lump sum Payment by end of Nov, then regular Payments between Dec & Feb, then a factual about gkp's vols and not just shaikan... by Mar/April/May... then Boom :) It has to come... or Krg will loose cred
It's a major factor going forward. What will be its physical assets, as regards Gulf's acreage? (a) the KRG percentage of the Blocks (b) the Back-In Rights. With the KSOC on the horizon, would the KRG actually want to sell the BIRs? Why not retain them, paying Gulf the appropriate amount for the sunk costs? Or might the KSOC trade the sunk costs element in the context of a pipeline deal?
Shaikan's longer-term output has been put by Gulf at 400k to 500k bopd. There's also "the Monster under the bed"....Sheikh Adi + Akri-Bijeel...to take into account. MOL won't reveal how many barrels they think are in Akri-Bijeel, but they certainly think it's a lot, and they are planning to use non-primary recovery methods including multi-fractured horizontals. Gulf are equally quiet on Sheikh Adi. None of the analysts asked a single question about volumetrics lol... The KRG, Gulf and MOL cannot determine the pipeline solution until the longer-term production volumes are assessed, albeit within a range. Greater Shaikan could potentially produce 1 million bopd or more; John Gerstenlauer's January 2012 "New York" Oil In Place numbers would suggest that. Perhaps a modular approach, which can be expanded, is the solution? Depends perhaps on how soon MOL and Gulf get a handle on Akri-Bijeel and Sheikh Adi.
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