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Nice and warm next to the "6km depth, hydro carbon kitchen to our right.
This feeds the north. We are first in geological line.
Imagine buying something that was at the epicenter of something that occured millions of years ago.
Shell found it and drilled to confidence of 100%
You really do have the finger on the regional/global pulseations .
Friends on copl discussed where next.
Here is great.
Santos , Barrossa news
https://www.lngindustry.com/liquid-natural-gas/13052021/nov-awarded-contract-by-bw-offshore
it would be difficult but think we could all live with THAT PLAN
:))
The wonders of modern technology and computing power.
RNS 1 Data reprocessed and geological seals are in place, oh, and by the way we found a shxt load more!!
RNS 2 IOC has taken a stake in BOIL, and fast tracks to production
RNS 3 SG awarded site P for being perfect.
Any more....
and this the Woodside doing 3,200 sq km of 3d seismic in a few hours
vice our lots current snail pace for 800 sq km
New operator , new timelines and fast tracked field progression
https://www.oilandgasaustralia.com.au/woodside-uses-more-than-one-million-cpus-to-deliver-seismic-results-in-hours/
pay close attention PG
I will be asking questions in the morning lol
:))
Haha, looks like a fair bit of reading there Shouston, looking forward to it.
Homework indeed! :)
This was last year when woodside wrote sunrise off their books, shortly after the Loco Pres
and the heads of the oil and mining replaced and the positive comments that the Island
is no longer a viable destination
This reflects the increased uncertainty of regulatory conditions, fiscal terms and development concept, a spokesperson for the Perth-based company told Energy Voice. The development of Greater Sunrise, which straddles Australian and East Timorese maritime borders, has stalled over the past decade as East Timor’s government insisted the gas be processed at a yet-to-be built LNG export facility on its shores. This development option was considered commercially unviable by Woodside and its joint venture partners. International oil companies considered Greater Sunrise to be politically stranded and of negligible value after the maritime boundary negotiations with Australia in 2018, in which the Timorese refused to agree to a development concept that would have used the field’s estimated 142 billion cubic metres of gas to backfill Australia’s existing Darwin LNG export plant in the early 2020s. Shell and ConocoPhillips subsequently agreed to sell their shares in Greater Sunrise to East Timor, leaving Woodside as the operator and Osaka Gas as a minority shareholder.
https://www.energyvoice.com/oilandgas/asia/254153/sunset-at-east-timors-greater-sunrise-lng-after-woodside-write-down/
Whilst the maritime boarders were still in dispute they walked also when originally discovered gas was second cousin to oil.
Now, like the political and maritime changes, gas is very much back in favour.
Thanks m8
Grover, need some handsoap, and wash those dirty mitts of yours.
Also say three hail marys...
Shouston
here one from 2004 the same stumbling block for 20 years, the only thing I can't figure out
is why Woodside , Shell and co did not up sticks and attack Sunrise from further East
mapped at least as much of the reservoir over the boundary as in it lol
https://www.laohamutuk.org/OilWeb/Options/RDTL%20wants%20Sunrise%20onshore.htm
Shouston
we have all the pieces of the jigsaw, we just need the one that provides clarity
to put them all together
after their statements in Jul/Oct last year , Woodside again proposed that their
plans have always remained the same, if when allowed to do so their preferred
options, to back fill the Bayu Undan pipeline to Darwin if available as deemed
depleted by 2022 or their original floating platform production as proposed
back in 2002
Santos have also stated a back fill of the Bayu - Darwin pipeline also thier
preference for Barossa which is in the OZ zone to the East of us
They also signed a new mou with NYSE listed ENI for cooperation on redev of
Bayu and potential new assets in the oz/tl area
So all indications are the sector is gearing up for some serious movement
fingers crossed one of those 42 international oil and gas companies that attended
the conference 25th March , the day after our sudden raise to take 85% of SG
thump on our door SOON !
and yes area P for Prize would be nice, especially as some of the old reports
theorised that Chuditch is actually the source area that was feeding Sunrise
area P links the two , so a fair to diddling chance its gas charged also
:))
That all came in in 2002 when they got independence again, an the latest 20 years of angst
between OZ and TL and the pursuit of a permanent maritime boundary, Woodside part
of the Sunrise Consortium back then with Conoco Phillips departed over the issue, as
they wanted to go to a 3rd member of the consortium Woodside's own already in build
refinery at Darwin, Shell already had end buyers in the USA for all production
Fed up they and Conoco departed the two being paid a compensation package of $650m
paid for by the Sovereign Wealth fund as a LOAN to Timor Gap the newly formed NOC
to take Shell/cp stake in Sunrise
The wrangles continued , TL adamant they wanted to build a pipeline from Sunrise to
Beaco Tasi Mane to be built new refinery/LNG complex on the East Coast of the Island
they finally came to an agreement in 2017 and implemented 2018 as to what now
belonged to TL , OZ and Indonesia ,, within the previously disputed JPDA area
The previous president took the delusions a whole step further wanting a full up/down
stream industry on the island like yesterday and had it read through parliament that
all now defined TL maritime boundary area WOULD BE theirs and processed on the
island
Woodside still wanted , floating platform production destination their Darwin refineries
and told TL Gov they had zero interest in funding or operating TL's still imaginary Beaco
facility IF ever built but would continue as Sunrise offshore operator
Frustrated by further delays, Woodside also further wrote down the carried value of Sunrise
on the balance sheet to ZERO
As said the other day , the Gov and Timor Gap both pretty much stated the Beaco plan no
longer financially viable (jul/oct)
and little point in holding a new license round with 11 of them being offshore potentially
far more gas than oil, if the bidders do not get assured they can take their production to
a refinery , not become stalled in the water like Sunrise and Chuditch currently, still no
on Island facilities for Gas and if they broke ground today , it would not be ready until
around 2030, they state they need new revenues from next year or in deep doo doo in
a few years as the Sovereign Wealth fund like the 2 current oil fields and Bayu Gas will
also be depleted
The fact the uncertainty remains over Sunrise discovered 1974/ and ready to go for 20
years, the moment they provide clarity , Beaco IS a dead duck, get producing and take
it where you want for processing
The whole sector will view TL and the largest undeveloped DISCOVERY in the region is
back in the game , with hungry eyes and the name of that discovery is CHUDITCH
:))
Lets hope we get rewarded with field P then HFB.
At 150k each licence, some big boy could buy the lot.
Fancy going 50/50 pal . lol
HFB, All,
I have read the legal doc for the latest round of licencing. I can see nowhere it mentions forcing IOCs to send the product to TL for processing.
http://licensinground.anpm.tl/wp-content/uploads/2020/02/Offshore-PSC-Model.pdf
But I am interested to see any documents on the Decree Law especially Article 24 and 25.
Anybody get a link for that please? (homework for tonight....)
I put it in this thread as it has a sexier title heh.., lol
Evening all,
Nice to see this remain relatively stable today, even with the large volumes! Great info as usual HFB :)
Hold, Hold and Hold!
https://www.in-vr.co/post/timor-leste-opportunities-for-new-investors-and-fiscal-regime-strategies
sure is Shouston
on the map on this link below new license area P will probably be hot to trot also
the one above Sunrise and the one below our Chuditch lol
:))
https://www.geoexpro.com/articles/2020/03/timor-leste-2nd-oil-and-gas-licensing-round
Great source of data.
Enjoy delving into all the links and videos
https://www.in-vr.co/post/these-are-the-70-billion-opportunities-that-attract-iocs-to-timor-leste-s-2nd-licensing-round
Click on Timor Lest tab at top for even more data....