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Tib
We are on the same page mon ami.
I have had a gut feel that Consortia is the way forward with the industry in transition due to socioeconomic movements and Stenna is sharp enough and astute enough to get that.
The Carib IMHO is the next big potential one and whilst still needing to be. proven with a biggie - we might just be the one!
Geologically looks possible.
I am not an oilie as you no doubt are aware which is why I love your and others valuable and various expert opinions and much appreciated.
What I do like to think is that I know markets and finance and can try to add value thereto.
You know my mantra by now:
6/10 ok
7/10 good job
8/10 once in a blue
9/10 your telling fibs.
10/10 Alleluja- you are God.
GL my friend.
IK
XX.
Interestking
No worries, good to have you back posting more.
Just another point from the article posted
"The $4.4bn Liza phase one development commenced production in December 2019. Its peak production capacity is estimated to be 120,000 barrels of oil per day (boed). "
So for a Major to invest in BPC its that sort of $4 Billion scale - by consortia as in Guyana to spread costs and risks - its no surprise no farm in yet as need 2 or 3 partners to do a deal, as whole costs to production is assumed in investment case, must have been like herding cats for Macquarie.
But on first oil that decision is going to be much easier to gain - so if a consortia who would be the optimum mix?
Tib
Thank you - much appreciated info.
GL
IK
XX
Guyana main economy pre oil strike overview:
"The Guyanese economy exhibited moderate economic growth in recent years and is based largely on agriculture and extractive industries. The economy is heavily dependent upon the export of six commodities - sugar, gold, bauxite, shrimp, timber, and rice - which represent nearly 60% of GDP and are highly susceptible to adverse weather conditions and fluctuations in commodity prices"
The oil strike in 2015:
https://www.nsenergybusiness.com/projects/liza-oilfield-stabroek-block-guyana/#
"Liza oil field is a deepwater discovery located in the Stabroek Block, approximately 190km offshore Guyana, in water depths of 1,500m-1,900m.
Being developed in phases, Liza is the first producing oil field among the eight oil discoveries made in the Stabroek Block between 2015 and 2018. Esso Exploration and Production Guyana Limited (EEPGL), a subsidiary of ExxonMobil, is the operator of Stabroek Block and holds 45% interest. The remaining interests in the block are held by Hess Guyana Exploration (30%) and CNOOC Nexen Petroleum Guyana (25%).
The $4.4bn Liza phase one development commenced production in December 2019. Its peak production capacity is estimated to be 120,000 barrels of oil per day (boed). "
Stena drill ships were used.
Then in Jan 2020 first production:
https://oilprice.com/Latest-Energy-News/World-News/Guyana-Officially-Becomes-Oil-Exporter.html
"All in all, ExxonMobil and its partners are expecting to produce at least 750,000 barrels per day within five years—a figure that if achieved would catapult Guyana into a serious global oil player.
Guyana’s most recent discovery courtesy of Exxon and Hess was from Mako-1, which is also in the Stabroek block.
Exxon’s quick success in Guyana has triggered an exploration campaign in neighboring Suriname, with a Total/Apache partnership striking oil right across the border just last week. The development brings hope to Suriname that it, too, could one day become an oil powerhouse."
From oil find to production within 5 years, will utterly transform their economy, Guyana with 500k population could be the Qatar of the Caribbean region.
BPC own 100% of their licenses.
Just saying :)