Ha ha I think the Chief is in a class of his own there!
I found his appointment intriguing and apart form the obvious his interest in the timing of the issuance of those notices and the issue of the responsibility for the costs based on that timing even more so.
I think it also worth noting the PVR comments and how they are almost in effect going back to a similar version of our 1B for their farm out negotiations does beg the question over why Xcite don't feel the need to consider pegging it back.
The route seems to be flying in the face of what most other small E&P's seem to be doing so like you I do wonder whether the challenge for them is more about proving their concept, method and savings rather than wonder about who will come on board
Unfortunately the question did not come up at the '14 AGM, but one has to wonder why or what's happened in the interim that no further progress has been reported by XEL on XER's reported a long time ago, and quite natural aspiration for a budding oilco, application to be an approved Production Operator. One might think for a 35 year plus project it would be a valuable and important company milestone to achieve. Makes one wonder, for Bentley at least, whether there is in the frame an oilco partner with that capability, rather than just leaving it to a contractor such as AMEC.
Got a feeling he joined the gravy train before the ACE concept was mooted. Seems to be a bit like Chief Tabetando. We gotta be ticking all the right boxes for Gov approval. Maybe no-one wants to go out on a limb before the Ref... Still gotta feeling we've been bagsied by Stat BP Shell. Why abandon Plan A with RBL approved and go for a larger Plan B with Norske Money?
Perhaps UK Gov will embark on a LoveFest of projects after there is a No vote to convince the Rebellious Scots that London Cares?? General Election next year. ScotNats will disintegrate after a No vote so maybe a few more seats for Dave North of Hadrian's Wall. If there's a Yes vote then omg, financial markets will not like that... But what do I know...
Lots of projects on hold Xel Hur eg. Hope your dog, knee all OK
The development will be authorised (i.e. the necessary consent/approval granted pursuant to the applicable model clauses and/or EIA regulations) once the Secretary of State is satisfied of the following: • FDP meets the government’s policy objectives (set out in the guidance notes) •Environmental Impact Assessment process has been completed successfully •each licensee has approved funding sufficient for their share of the development costs •the department has approved a Production Operator for the development
Exactly, DECC are pro-development and work in partnership - the end submission should/is a formality:
The documentation required for new oil and gas field authorisations is the Field Development Plan (FDP). The discussion leading to submission of the FDP is the process by which the Energy Development Unit (EDU) secures the department’s policy objectives. The aim of the process is to identify aspects of the development plan that relate to the Department’s objectives and on which the views of the department and licensees may diverge. These aspects will be examined more thoroughly with licensees, with the aim of reaching mutually satisfactory conclusions. The resulting FDP should provide a summary description of the actual development and the principles and objectives that will govern its management.
Operators considering a development should contact the department early in the appraisal stage of a field. A multi-disciplinary team from the EDU will be assigned to carry forward the technical discussion on the field, headed by a manager authorised to take technical decisions on behalf of the Department and to co-ordinate, where necessary, the department’s response on policy issues
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