Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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this chain of posts is aptly entitled 'Up the Creek', since that's where the trolls most certainly now are and - as Barry Mckenzie would have said - in a barbwire canoe without a paddle. still waiting for their explanation how come Avobone, Sun Trust and licence renewal failed to bring the company down, as they all predicted. never get an answer on this and not holding my breath.
one of the major problems of the NCTL is that it is largely laid through mangrove swamp, where visibility can be down to 20m with no or only limited built in security systems, making theft relatively easy. it should be possible for Eroton to lay the new pipeline down open waterways and then out to sea, which are not only more visible but are regularly patrolled by high speed craft. also OML18 is inherently more secure as it is on edge of the delta. furthermore as i have commented before, because the incidence of oil theft is a global issue, modern pipeline systems come with hi tech inbuilt monitoring capability and alarms. i understand this is done with fibre optic cabling. unlikely in my opinion that Eroton and its partners would not be availing themselves of such technology.
from the Admission doc: Eroton’s structuring of security and community agreements, with the assistance of Bilton, have ensured almost non-existent theft or sabotage at OML 18 since Eroton took over as Operator in March 2015.
Bilton is an indigenous Nigerian carry vehicle, which has been set up to maintain security and community relations to help minimise any disruption of the operations at OML 18.
As a shareholder in Eroton, Bilton was an integral part in the acquisition strategy for OML 18. In addition to its other responsibilities as a shareholder, it has the responsibility to design and implement a host community and security package. This package has effectively turned the OML 18 area from a restive community into one that has virtually eliminated the community disturbances that existed during the
period prior to Eroton’s ownership of its interest.
Another 'wittering' from History on Advfn. The Nigerian NEC reports that the Nembe Colander lost 9.2m bbls to theft and vandalism in the first 6 months.
Thats a whopping 50,000 b/d!
And that before the unexplained shutdown and force majeure this month.
Thank goodness that Alaric and Mclean believe that the fabled new pipeline/FSO will be operational by 31 December.
mr. muckspreader if there is ever another pipe built it will also be blown up you havent thought enough ahead to figer that one out have you. the people of the Niger Delta are very very angry that the oil companies take all of the money away from the oil and so they will always attack and steal from them. yes mr blackswan they companies try and make out they are good to the locals and very very sometimes they spend tiny money on sending one ore two studunts to univercity every one or two years and then make a big thing about it. shell are sick of it all and have tried to get over it for years but they can not win so they are leaving after selling up to inocent gready fools who think they can do better than experts. you will never win against angry Nigerians.
fwiw mclean, i think PC is right - these low-lifes aren't worth the spit
Midwestern and the Canadians certainly put their best foot forward in their attempt to make a success of OML18 however they didn't succeed - let's hope times have changed - as I think to some extent they have - the original Sp Angel report laid out how Eroton would set out to solve the Delta situation with the involvement of the locals in a percentage shareholding of the company with percentage increases over the years (I am sure others on this site remember the name of the subsidiary Eroton setup regrettably I don't have the time to go back and dig it out) and in addition Eroton would award scholarships to local students - whatever happened to all that?
Additionally, to get around the NNPC non/delayed payment problems, the SP Angel report mention that the company would be able to sell product on their own account - nothing heard of that either.
SLE need to tread very carefully in order to maintain a positive balance between what we receive as assets/income and what we commit ourselves to financially in the development of this field - yes I hear the "we got something for nothing"arguements but nevertheless, we have also incurred liabilities which we should seek to contain.
Looking forward to the upcoming report - although not really expecting any game-changing news such as an update on the FSO project.
It is true mclean...you really shouldn't get upset with the witterings of the depressed. Indeed, I strongly suggest you ignore them in the way that you'd ignore the wild man walking down the high street claiming the end is nigh. it might be, tho sadly if it is, then everything else is rather irrelevant...like Callas and co...leave them be, you have seen over the past year or 2 that like all bullies they disappear when the going gets tough but love coming back at the merest sight of weakness. What will be will be here...we are either right, SLE is a cash cow and we'll get to drink a few in celebration or we are wrong whereupon we'll get to drink a few in commiseration. But the more airtime you give Callas, B7, S8, Afa and co the more they will breathe. What is truly laughable is if they believe they can manipulate the SP - which I'm afraid for them and for us will look after itself.
Mclean, I've told you before, you really mustn't get so upset...you'll damage your health. If you find my posts uncomfortable, don't read them.
Some extracts from the Wall Street Journal, Oct 2013.
"Royal Dutch Shell PLC is trying to exit an oil-rich but violent part of Nigeria, say people briefed on the company's plans to sell a leak-prone pipeline and several oil wells there."
"Selling the Nembe Creek Trunk Line—which moves oil through the Delta to the Atlantic coast—would be Shell's biggest move yet to exit onshore crude production in a region that has caused problems for decades. Over the past year, the Nembe Creek line has had multiple punctures and closures, and at least one fire."
"The Nembe Creek pipeline has been a particular target, even after Shell invested over $1 billion to rebuild it in 2011. The pipeline was shut for much of this year, taking 150,000 barrels per day offline. It reopened briefly in the fall but was shut again after new oil-theft incidents, which have totaled at least 60 this year on the line, Shell said."
"Despite Shell's backing of the government's push to see Nigerian companies take over local infrastructure, Jacob Mandi, a former oil thief who used to steal from the Nembe Creek line, says he's not sure that will help things. While having local owners may ease problems, he said, if the owners are unknown to those who live near the pipeline, "they will need to settle the community" by paying money to avoid vandalism."
Guess Fanning and Hughes read the Beano rather than the Wall Street Journal.
Shell saw Aiteo and Eroton coming.
Later Eroton and Midwestern saw San Leon coming.