EITHER OR FIRST TWO CARGOS14 Aug 2017 12:10
Under the Agreement, Sirius can request that BP provides pre-payment finance for either or both of the first two cargos of crude oil, each for up to US$10 million, scheduled to be lifted in 500,000 barrel parcels or more. The prepayment facility will be conditional upon the Ororo field achieving certain daily production levels, which are lower than the flow rates previously achieved by Chevron on Ororo 1, which have been underpinned by the recent Competent Persons Report ("CPR").