Now we know who bought the Xel well data for sure...............
OSLO, Nov 22 (Reuters) - Norwegian oil and gas firm Statoil (Berlin: DNQ.BE - news) has delayed the development of its Bressay heavy oil field in the UK North Sea, hoping to simplify the project and reduce its costs, a spokesman said on Friday.
Bressay, thought to contain between 200 million and 300 million barrels of recoverable oil, was expected to cost up to $7 billion, a relatively high figure because of difficult conditions.
However, well data from the nearby Bentley field, which has similar geology, has indicated potential to simplify the development concept, reduce the number of wells required and make it cheaper, spokesman Knut Rostad said.
"Statoil (Xetra: DNQ.DE - news) has, based on the recommendation from the Bressay licence group, decided to reconsider the development concept and delayed the field development decision," Rostad said.
Yup. But it shows that there is serious money available in the system as soon as the blue touchpaper is lit.
From the MOU. ""XER and AMEC will shortly commence a front-end engineering and design (FEED) programme, during which the terms for a wider services agreement are expected to be formulated to include project and programme management and controls, further detailed engineering and design, fabrication management, sub-contractor management, hook-up and commissioning, operations and maintenance planning and system build, and Duty Holder services""
I wouldn't say it was impossible for AMEC to take 5% (say) of Bent in part-payment. Incentivisation and all that.
By that they only mean buying up smaller outfits which are getting a bigger market share of the type of business that Amec do . Hence the offer for Kentz earlier in the year . There is always the chance of Amec getting EPC or part of it for any development that happens with the Bentley field but from what I have seen and have worked for them a number of times , it does not seem to be in their remit to buy in to part ownership etc . Engineering services companies .
Datafeed and UK data supplied by NETbuilder and Interactive Data.
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