This is what Statoil and BP are targeting as recovery %'s now. Obviously that will vary from field to field and as technology continues to improve. Statoil currently has NCS 60% overall OIR recovery target. BP's Prudhoe is now at 60%. HO on the other hand still continues to advance from a low base. Peregrino's gone from 9 to 20%. Bressay and Bentley clearly will start higher than this w/o EOR. However new well technologies, drilling methods, CMD, foam, polymers, etc., will all provide major boosts to HO recovery % in the years to come.
Prefer not to give away my life history to all and sundry and time taken re what they ask for there. So my question is if you have done so, is there a presentation there by RC, in addition to the unfortunate face picture once more of him with some sort of light seemimgly exiting from the right side of his neck, where he states 2018 as the Bentley field production start date, or is this upstreamonline reporter interpretation.
If Statoil had used terminology such as shelved Bressay, at the time they reportedly suspended for cost review, shelved implies canned, binned etc., they likely would have been hard pressed to get DECC to agree to the lease renewal they needed. Terminology used is important.
Statoil will save a huge amount on their unit capex costs by simplifying items such as the fixed in place platform and the FPSO, both of which were modelled on duplicates of the very expensive Mariner. Concept designs and times have moved on. Look also at the cost Premier have brought Solan in at. The numbers of wells required appears roughly similar to earlier estimates, so where Statoil will achieve benefit from XEL IP may be in location of said wells/techniques/technology to improve productivity. They will get both a facility capex saving, combined with more oil for the similar it seems development cost, hence profitability will also increase.
I'm curious chappi, you mention RC was doing a presentation at this pareto conference. If that was so, and I can only see mention of talking on the sidelines ref BB and the upstreamonline report, can we listen anywhere to exactly what was said, and should a copy of this presentation not be up on the XEL website?
Ok, not sloppy (that was me using earlier term) but naughty. It's an implied quote from Cole. I agree that Cole would be reluctant to give dates but if they have used Edison's estimated dates then they should have said that. I try to temper my optimism. As for farm-in partners - they are still potential and there are candidates - no more. (though candidate suggests applicants)
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