As part of the BU Leadership Team, accountable to provide HR input into the project stages of the Sea Lion asset, including HR issues in the UK, the Falkland Islands and international project execution sites.
From Results: Good progress has been made with FIG on the royalty and fiscal terms which will apply to the first phase of development of the Sea Lion field. A public consultation on a number of technical tax matters associated with oil field development in the Falklands was concluded in the third quarter of 2018 with a number of technical amendments and clarifications being implemented. These amendments and clarifications provided definition on a number of important regulatory and tax matters which were critical to enabling the project to progress.
Note : which will apply to first phase of development of the Sealion field.
Looks like some good terms for only phase1. Hope its tax break
As per update from the premier, that there is company(s) interested to invest in sealion but we will contact them after EC approval. Why after EC approval? I am thinking a loud and reason could be one of following: - Partner might have offered different prices per barrel for with EC approval and without EC approval, e.g. $6/barrel with EC approval and $4 per barrel without EC approval - Premier might have said to Partner, after EC approval we will tell you how much % we want to farm-out - Partner doesn't want to invest without EC approval?
Guys share your thoughts and this could a question for AGM specially during informal chat with BoD after formal questions are over.