We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Has anyone been keeping a track of how much each production well is approximately producing ? Just trying to get better visibility into how we are going to reach the magic 55k bopd. The timeline for this does seem to be getting pushed every quarter.
Have ESP's been installed in SH 5, 10 and 11 yet ?
Many thanks
"I'm sure I'm not alone in wondering how your are getting along ?"
I expected some changes . . but what's happening are certainly not what I expected
"I'm sure I'm not alone in wondering how your are getting along ?"
Thanks for your concerns, much appreciated
If I can get a report together this weekend that sounds something like decent I post it, but matters are under constant daily change
according oilman and bigdog DNO went up 62% the other day when it actually didn’t at all and also there would be no opec deal, bigdog stated the latter multiple times, of course this was just pure guesswork based on it being a negative outcome for GKP, such is his bitterness
Then anytime they see any sort of positive technical post they always immediately say “it’s wrong” with absolutely no understanding or substantiation of their claims, bigdog doesn’t have a clue no matter what, his ignorance is absolutely legendary and what is even funnier is how he tries to hide it.
Then oilman doesn’t have a clue either, that’s why he always, with out fail, says he will address it “later” and that’s simply because the sad old man cuts and pastes the comments, sends them off in an email to someone he pays to respond, then passes off those words as his own, and again like bigdog, that pretence of having a clue is so weak and feeble it is truly laughable
GKP never said that the SH-9 result was a negative. That was just Macfly/Oilman63 ( a car parts salesman), making it all up.
The gas injection was to be a storage arrangement to hold the produced Jurassic gas underground - at a later stage it was then going to be released and processed. Jon Ferrier told a shareholder there wasn’t much gas in the Jurassic anyway! At the Geological Society, Gulf said they did not know where the high Jurassic reservoir pressure was coming from. Atrush has never flowed, not even at the discovery well, without the use of pumps. Quite why gas injection has been seen as the key to Shaikan oil production is baffling when there are other technical solutions such as electric pumps and water injection, I have no idea.
The KRG want to eliminate gas flaring, but that’s hardly an issue at Shaikan because the gas can be “sweetened” and used for power generation. The original GKP management introduced that technology at Shaikan to greatly reduce the diesel costs of running the site. The KRG want to monetise the gas from Shaikan and the nearby Hunt field. GKP were asked to consider ways of doing this.
There is a huge amount of gas and highly valuable Condensate - c. 200 million barrels Recoverable Condensate - in the Triassic, which was the original key target formation at Shaikan. Jon Ferrier knows its value, but except for one conference he fails to mention it. The numbers are in the CPR with no values associated, being another example of the conservative approach.
Gas can be liquified using a modular, micro LNG plant with the resultant product sold via road tanker. Such plant can be leased, or bought from upward of $15 million per module. That isn’t the only solution because of other non-GKP gas assets in the area. There is no problem, except in the minds of Oilman and his fellow trolls , Bigdog5 and Broadfraud.
A veritable tour de force of facts there as usual from your good self Mikey.
More to the point - I'm sure I'm not alone in wondering how your are getting along ?
Oh - here's a supposition to bring a smile: maybe SS is JF in disguise ;)
Continued best wishes to you.
The Altrush Pipeline crosses Shaikan on the Eastern end, passing close to SH-6 across a fairly busy road that runs under the whole length of Shaikan, then goes straight down the Eastern side of PF2 to the Mixing/Export Station sat to the North of the Main Export Pipeline.
The Oil then goes through the Blending Process and is pumped directly into the Main Export Pipeline . . . To my knowledge after crossing the Altrush Licence Boundary the Pipeline costs where paid for by the Altrush Partnership . . No Shaikan Pipeline Connects to an Altrush Pipeline
The PF2 Pipeline went from PF2 some 400mtrs to Mixing Station where it was Blended with the Altrush & Khurmala Dome Oil and from where it went into the Main Export Pipeline . . . To my knowledge after crossing the Shaikan Licence Boundary the remaining Pipeline Costs was paid for by GKP . . At no point did the Altrush & Shaikan PF2 Pipeline join together "before" they entered the Mixing/ Export Station
The PF1 Pipeline went from PF1, in most cases breaking fresh ground, until it went down the West side of PF2 to the Mixing/Export Station . . . To my knowledge after crossing the Shaikan Licence Boundary the remaining Pipeline was paid for by GKP
At the Mixing/Export Station the 3 Pipelines are pumped in a least 4 Holding Tanks maybe more by now.
The Mixing/Export Station also contains at least 3 or 4 Truck Loading / Unloading Facilities through which Oil from minor Oil Fields can be delivered to the M&E Station, and removed from for in Country Processing.
It's hard to tell through Satellite Imagery how large inside its boundary fence the M&E Station actually is, but I's say its around 6/700mtr X 4/500mtr maybe larger
As more through put increased, I have witnessed the Facility being expended, but my Licence is now no longer valid
Inside the M&E Station the different Oil API's from Shaikan, Altrush and the Khurmala Dome are Blended, before going through 2 or maybe 3 Large Pumps to move the Oil on towards the DNO M&E Station down stream.
At DNO's M&E Station Oil comes in from Tawke, by truck load from other DNO Licences and a few minor Oil Fields & the process is the same before the Oil is Exported as the Kurdistan Blend (citation needed)
The Altrush Pipeline crossed Shaikan on the Eastern side, close to SH-6 across a fairly busy road that runs under the whole length of Shaikan, and went straight down the East side of PF2 to the Mixing/Export Station sat to the North of the Main Export Pipeline, from where after it goes through the Blending Process and is pumped directly into the Main Export Pipeline . . . To my knowledge after crossing the Altrush Licence Boundary the Pipeline costs where paid for by the Altrush Partnership . . No Shaikan Pipeline Connects to an Altrush Pipeline
The PF2 Pipeline went from PF2 some 400mtrs to Mixing Station where it was Blended with the Altrush & Khurmala Dome Oil and from where it went into the Main Export Pipeline . . . To my knowledge after crossing the Shaikan Licence Boundary the remaining Pipeline Costs was paid for by GKP . . At no point did the Altrush & Shaikan PF2 Pipeline join together "before" they entered the Mixing/ Export Station
The PF1 Pipeline went from PF1, in most cases breaking fresh ground, until it went down the West side of PF2 to the Mixing/Export Station . . . To my knowledge after crossing the Shaikan Licence Boundary the remaining Pipeline was paid for by GKP
At the Mixing/Export Station the 3 Pipelines are pumped in a least 4 Holding Tanks maybe more by now.
The Mixing/Export Station also contains at least 3 or 4 Truck Loading / Unloading Facilities through which Oil from minor Oil Fields can be delivered to the M&E Station, and removed from for in Country Processing.
It's hard to tell through Satellite Imagery how large inside its boundary fence the M&E Station actually is, but I's say its around 6/700mtr X 4/500mtr maybe larger
As more through put increased, I have witnessed the Facility being expended, but my Licence is now no longer valid
Inside the M&E Station the different Oil API's from Shaikan, Altrush and the Khurmala Dome are Blended, before going through 2 or maybe 3 Large Pumps to move the Oil on towards the DNO M&E Station down stream.
At DNO's M&E Station Oil comes in from Tawke, by truck load from other DNO Licences and a few minor Oil Fields & the process is the same before the Oil is Exported as the Kurdistan Blend (citation needed)
Surreyscot
Great post, may I also add net cash of $160m in the bank and the mkt cap is only £160m ish.
My one concern is the gas situation. I had assumed the result of SH-9 was bad news as the long term plan of gas re-injection to maintain field pressure and production rates was now defunct, Feels like we are now back to square one and have to draw up a whole new plan.
Do we now need to build a load of infrastructure to sell the gas or is this straight forward ?
I have been a buyer over the last few days and this reminds me of Dragon oil back in 2008 ish when it got hammered and was trading at cash value. It went from £1.20 to £4 in about 6 weeks when a buyer came in.
Many thanks for your thoughts.
GKP sounds mega there then SS - plenty of justifications for the BoD to open up their buyback treasure chest.
ENQUEST just informed us that our BoD over there will take a voluntary 20% pay cut.
Compare and contrast !
Here are a few pointers:
Atrush Feeder Pipeline constructed on KRG instructions to take all Atrush and Shaikan oil to the export pipeline. Cost to GKP = nil, thanks to the KRG arrangement. Originally planned major Shaikan export pipeline no longer required.
Shaikan now fully connected to Atrush Feeder Pipeline. Road tankering of export oil eliminated.
Shaikan no longer requires a gas re-injection plant, because there is no gas cap at Shaikan. Gas to be sold instead, increasing the value of the asset and eliminating high-pressure handling of toxic Hydrogen Sulphide. This gas sales solution was proposed about 4 years ago by the KRG, but until the absence of a gas cap was confirmed with a well, planning could not proceed.
PF-1 and PF-2 capacities increased by debottlenecking and other work. GKP said in 2004 that the capacity had been increased from the nameplate 40,000 bopd to c. 55,000 bopd. Current capacity unknown, but GKP say it will handle 55,000 bopd.
Production tubing replaced at SH-1 and SH-3 with larger diameter kit, increasing output at those wells.
New well SH-12 successfully completed and on oil production
New well SH-9 successfully completed and following gas cap testing is currently being connected up for oil production
New oil production well SH-13 almost completed, work suspended because of Coronavirus and oil price issues
Drill pads and other surface work completed.
GKP and MOL cannot proceed with work unless/and until the KRG approve that work. GKP and MOL have c. $550 million in past capex to recover under the PSC arrangements. That will cover the next stages of work and the capital recycling formula will cover expansion to c. 110,000 bopd.
======================================================================================================
Facts ! Not scaremongering BS from a bunch of trolls.