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Mole,
I am sure the primary resolve at Southwark will be to rock dump in the area of concern to firm up the area of seabed that is causing the rig to move relative to the Platform, hence making the areas for the legs to be jacked into more secure.
Then once in position further material dumped to prevent the seabed currents causing the scour problems.
I would say they will work around the problem as moving the Platform is a massive task.
GG
GG understand that I think what I'm getting at is if they have to move the location now the platform is in place do they have to drill through and second is moving the platform a possibility to a better position or are they going to have to work around what they have already done? If it's currents that seems less of an option than seabed itself.
I guess there area also other options but we will have to see what they come up with.
A very useful RNS this morning, and finally a date for first gas. As always lots of very useful technical information shared on the board this morning (many thanks to those who have, it is so valuable). We are looking in a strong position and grateful for dip in share price yesterday as it gave me an opportunity to make a small and first investment for my 10 month old daughter!
It’s been a long wait for some and even longer for others but within 4 weeks IOG will be reaching a monumental mile stone.
GLA
Morning Moleinahole,
Platform wells such as Blythe and Southwark are drilled through slots in the Platform, called well bays.
Therefore the NUI is in place first then the Jack Up is situated alongside, a cantilever deck is extended over the slot and the drilling assemblies and associated casings run through the slot.
The well control equipment and eventually the Production Tree are situated on the NUI, then hooked up to the control system and production pipelines back to Bacton.
I am still very disappointed that the seabed fault at Soutwark was not identified during the initial survey and moreso while the rig was in Dundee for repairs this survey could have highlighted the issue and remedial work carried out then, assuming the required vessels were available.
I agree with your comment on higher gas prices which will help us greatly to absorb some of this potential overspend.
Confirmation of first gas being mid February should settle the market and stop the drop in share price for now.
GG
There you have it.
Delays cost money.
On Bacton limitations on staff on site, covid and perenco. And now at 93% complete which begs the question what was it in Dec! But it is what it is.
On Southwark we knew they had moved from marine track but that is a hefty delay with a rig on hire. That well was supposed to have started in Oct it be won't get going till probably march. 6 months late. Just out of interest why don't they drill and then install the platform?
And the left field news 20 to 25% cost over run. That was in my opinion the real reason for the raise in sept.
So a firmer but late date on first gas but completing phase 1 at Southwark needs more work. They have been very lucky with the higher gas prices which they have missed a significant opportunity so far by being late which will mean the cost over run can be absorbed not least if the govt try to tax gas as it will go into capital allowances.
Pleased they have issued an RNS but not that impressed with how it's been played out. They now really must deliver and stop the mistakes and issues on the offshore activities.
Peakview what is particularly complicated with this project?
Is conducting a sea bed survey correctly, "complicated"?
Apart from dunder raving about star clusters, think we have a reasonable reaction to today's long awaited RNS. As requested, we now have a clear and positive indication to a first gas target - mid-Feb plus a week and "a few weeks into 2022" was about ball park accurate. Over budget is not good news, but I struggle to remember projects of this nature, with all the complications, that ever complete within budget, and a bank loan to cover in the interim seems sensible. Prime relief is that there are no serious trouble spots to further delay first gas - and if the market reacts negatively to the news on today's bell, I shall be first in for a top-up.
Pressure on management and a rapidly plummeting shareprice finally has had its affect; an RNS with clear dates. Hopefully this will clear all doubts and instill confidence again. We should see the shareprice head towards 40p again. OK, not the first gas news we hoped for, but no unforeseen operational problems ! And from their record, they have been spot on, on their dates.
A couple of months delay in cash flow, but will be more than compensated by rising gas prices because of geopolictical tensions and gas shortages.
We are 3 weeks from first gas!
Thought it be feb I suspect a few nervous will sell I will add on weakness today good luck all . They are 93 percent there that’s good better than saying there is a major problem mid feb it is