Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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DC,
"I dismissed it as I thought the distance might be too great."
It's just occured to me. (Again, just thinking crazy ideas aloud. Please don't imagine this has anything to do with what may happen.)
Yes, there's a certain distance. But the Foinaven wellheads are in deepwater, so under a certain pressure. So a pipeline would be going 'uphill'. And oil likes going 'uphill'.
Plus for some unknown reason, Shell / BP (partners in the WoS fields) bought a bunch of licences 'coralling' Hurricane a couple of years ago. Which gives them 'right of way'.
It may be an imaginary 'pie in the sky' possibility, but interesting even so. Kick at stones and see what comes out from underneath.
adoubleuk
This crossed my mind but as a non oil man I dismissed it as I thought the distance might be too great. So very interested to hear you had the same idea. The subsea costs would certainly be far less than a replacement FSPO.
Alf8885,
"That being said I saw this in the Times this morning https://www.thetimes.co.uk/article/end-is-in-sight-for-bps-foinaven-the-uks-first-atlantic-oil-field-09c2gndnv
What are peoples opinions on the chances of HUR getting involved in this with BP pulling out? "
I saw that too, and immediately thought that HUR could get involved.
OK, what follows is pure pie-in-the-sky of 'bluesky' thinking. Some of you may laugh. But remember, in the oilfield, nothing is impossible.
BP is not necessarily going to abandon the Foinaven field. Because then they'd have to pay considerable decommissioning costs. Very considerable. However they have to shut in because the Patrojarl Foinaven (the FPSO) is falling apart. OK, BP and partners have been down this road before with Schiehallion, which they shut in for two years while Glen Lyon was being built and installed. But that's a big, major field, so it was worth the time and expense.
But is it worth it for Foinaven, currently producing at around 12,500 bbl / day ? I suspect not. However a tieback to another FPSO might not be a bad idea. Technically not too difficult. Build and install a subsea manifold connecting the flowlines from the assorted wells, then run a pipeline to the chosen FPSO.
OK, maybe Glen Lyon seems the obvious choice. But Aoka Mizu is a bit closer, and has the spare capacity. Plus sharing the AM with BP would maybe get HUR 'off the hook', as a win-win.
OK, this is fantastical dreaming, I readily admit it. Shouldn't be taken seriously. But nothing's impossible.
Jock - I bet, I sold at a loss but seeing where the share price is now happy I cut my losses.
Knowing there are holders who are still in at that sort of price is partly why my thoughts turned to HUR when reading this article... and of course to gauge if this presented an opportunity to buy back in.
Thanks all for your thoughts, much appreciated
I’d say with the way things are going there’s probably a chance the AM will head there unless HUR can give them any definite info with longevity.
More chance of Aoka Mizu ending up on Foinaven hired to BP
Hi Alf, and welcome to this BB. The HUR BOD are incompetent, and sit on their hands all day. Foinaven/BP is an interesting situation, but it is beyond the competence levels of our hierarchy to give it a thought.
Wishing I had got out at 30p!!!
I think Hurricane have enough on their plate at the moment. If you are up to date with current affairs you will know they are in the brown smelly stuff. Sadly none of it, apparently is oil.
Hi, first time poster and used to hold these a while ago but sold just before the share price dropped from 30p. Looking to get back in as this company are cash rich and keep up to date with the company news but nothing in too much depth.
That being said I saw this in the Times this morning https://www.thetimes.co.uk/article/end-is-in-sight-for-bps-foinaven-the-uks-first-atlantic-oil-field-09c2gndnv
What are peoples opinions on the chances of HUR getting involved in this with BP pulling out? Infrastructure for HUR is in the area, local knowledge and they have cash in the bank to invest in this sort of field.