Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
All,
Here is the bookies shortlist
https://www.upstreamonline.com/rigs-and-vessels/idle-fpsos-draw-strong-market-interest/2-1-1601785
Mogger
All,
Interesting speech by DC , but those short on time should listen from 7:10
https://youtu.be/cNIYKwjHKkk?si=-HRKiK7GZ-ys-vGr
Mogger
TCM,
May I suggest you reread the article again. Carefully and without prejudice.
As Pre says, Tom is talking about support vessels, supporting the semi sub.
All the timings confirm first oil is still planned for 2026
Mogger
All,
Some notes from the Annual Offshore Support conference this week
Navitas Petroleum development and production logistics manager Tom Campbell talked about the company’s vessel requirements to support the development of the Sea Lion field offshore the Falkland Islands, where a network of subsea infrastructure will be connected to a floating production storage and offloading (FPSO) for first oil in 2026.
“We will start chartering vessels in Q4 2025,” said Mr Campbell. These will support a harsh-environment semi-submersible drilling rig, which will be contracted to drill the development wells on this project.
Mr Campbell said there will be two- or three-year vessel charters, and perhaps contracts lasting up to 11 years. Operating offshore the Falklands can be challenging, although the environment is similar to the central North Sea.
“There are strong metocean conditions, so vessels need significant horse power,” he explained. “It is remote, with a lack of infrastructure and we will need to mobilise vessels there on long-term charters.
https://www.rivieramm.com/news-content-hub/news-content-hub/energy-producers-would-charter-low-emissions-osvs-long-term-79564
Mogger
All,
Some bad news for those that applied for the job adverts that I've been posting.
The Legislative Assembly Records for the meetings that took place in October, November and December 2023 were only just released this week. In the October Minutes Teslyn Barkman welcomes 3 new starters. Three names that I haven't seen before.
https://www.falklands.gov.fk/mineralresources/about-us/staff/oil-and-gas-staff
Looks like Sergei might have a few contacts.
https://www.linkedin.com/in/sergei-stankovski-4772b7126/?originalSubdomain=uk
Page 29 for reference and some info on Argos' new owners.
https://assembly.fig.gov.fk/jdownloads/Assembly%20Records%20and%20Order%20Papers/Legislative%20Assembly%20Records/2023/8.%20Legislative%20Assembly%20Record%2026%20October%202023.pdf
There is nothing of interest in the minutes of the other two months apart from confirming that the South Atlantic Environmental Research Institute is helping Navitas with the Environmental Impart Statement.
Mogger
All,
Confirmation, if any required, that the Falklands Government are working hard in the background.
Its always interesting to hear what's going on in the Islands but those short on time should listen from 4:00 to 4:30
Mogger
https://fitv.co.fk/falklands-in-focus/week-674/?_gl=1*131ih82*_up*MQ..*_ga*MTkxMzUxMTkxOC4xNzA2Mzc1NDAy*_ga_CLVTRMVVR8*MTcwNjM3NTQwMS4xLjAuMTcwNjM3NTQwMS4wLjAuMA..
All,
Just one update of interest this month
"5.7 Projects requiring special mention
(a) Oil readiness legislation
A working group made up of officials from Minerals and Law and Regulation met on 4 December for a preliminary discussion on requirements for oil readiness. The meeting is a good start and more meetings are planned in the new year. It is clear though that there is considerable work to be done on policy development in most areas before any legislative drafting can re-start. Matters will become clearer and crystallise once a project plan is produced. It was agreed that realistic estimated timelines are essential in taking this work forward (initial estimates appear to be highly optimistic). A legislative drafter has been earmarked for this project"
https://assembly.fig.gov.fk/jdownloads/Executive%20Council/Executive%20Council%20Papers/2024/01%2023%20January%202024/09-24P.pdf
Mogger
All,
Nothing new, but good to hear everything on track for FID in the next 5 years. Godders will be happy
https://www.youtube.com/watch?v=sLlbqS5c0ls&t=186s
Mogger
Pre,
I
Here is my translation:
For the approval of the Falkland Islands government, a plan for the development of the project, which includes
1
Number: 2023-01-106528(, submitted by the partnership
Drilling of 23 development wells in two stages - in stage I drilling of 11 wells and in stage B drilling of 12 wells additional (hereinafter: "the latest development plan"). The data of the quantities and the cash flow presented in this report
which includes the development of 312 MMBBL in the C2 category (of which 177 MMBBL will be developed as part of Phase I
2
are based on the latest development plan
. The establishment costs (Capex) of Phase I are estimated at approximately 1.2 billion dollars by
for the start of production from the project. The current development plan is planned to be carried out in stages, thus allowing for a reduction in the establishment costs until the start of production, which is expected to facilitate the process of obtaining financing for the development of phase one of the project and receiving a final investment decision (FID) during the year 2024 in accordance with the current development plan,
The production from the development of phase one of the project is expected to be carried out using a production and storage facility - production floating offloading and storage" (FPSO) "with a production capacity of up to 45,000 barrels of oil per day in phase A, and up to
About 55,000 barrels of oil per day in phase B. The partnership intends to act to develop the remaining resources in the oil asset, which are not included in the current development plan, where the production within the following development stages may be carried out in combination
Additional FPSOs, which will enable the production to be increased to about 200,000 barrels of oil per day.
The development plan, which was included in the previous cash flow forecast, published as part of the periodic report for the year
2022 was based on the following assumptions (in relation to 100%): Total cost of phase 1 - about 1.8 billion dollars (out of about 1.3 billion dollars until the start of production (FPSO with a production capacity of about 80,000 barrels per day; Contingent resources - approximately 712 million barrels of oil (the total contingent resources in the C2 category oil property).
The latest development plan, which was submitted for approval, is based on the following assumptions (in relation to 100%):
Total cost of a phase A - 1.4 billion dollars (of which about 1.2 billion dollars until the start of production); FPSO with a production capacity of
About 45,000-barrels per day in phase A and about 55,000-barrels per day in phase B; Conditional resources - 791 million barrels of oil
The latest development plan, which is being carried out in stages, includes a reduction in construction costs, an increase in the amount of resources
Conditionals of about 16% - with a decrease of only about 5% - in the discounted cash flow (at a
Pre,
Nice find!
Its more than just a Resources report too! There is some great information regarding the lowering of CAPEX and the size of FPSO that they are looking at.
Another sign that nothing is happening!
Mogger
All,
More proof for Godders that absolutely nothing is happening and FID is at least 5 years away.
For further information, download the job description and read who and what needs to be managed.
https://ats-fig.jgp.co.uk/vacancies/267557?ga_client_id=71dc4690-8da7-448e-98f3-01a00951ac95&type=list
Mogger
I hope Wayne Rooney doesn't apply now that he is unemployed again, eh Latics?!
Pre,
They have been informed that drilling has stopped on their 4th development well (Shenandoah) for technical reasons. Development will still be on budget and on time. I see the share price is recovering....
https://mayafiles.tase.co.il/rpdf/1568001-1569000/P1568553-00.pdf
Mogger
All,
Another box ticked
https://www.legislation.gov.fk/view/html/inforce/2023-12-16/fisl-2023-10#sec.3
Mogger