It's "the barrels" that matter. And whilst BG may have had success in the purportedly cheap task of finding new fields, there ain't no cheap fields to be found these days! If one excludes fantasising about getting licences on one of the moons of Jupiter, that is lol.
BG is a huge management operation. It's scattered all over the shop. Yes it's valuable, but it's more "management" than it is "Colonel Drake".
The key thing with Gulf, in my opinion, is that the assets are onshore, and highly-concentrated in one location near infrastructure. Yes there's the politics...but that's always been the case with oil.
I personally believe the read-across to GKP from the Shell-BG development is hugely important.
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