Kind of funny, but... The Carribean more and more in focus. And look at Tullow's schedule to get from floating slab to drilling.|
|You can see that some are worried that news could break at any time, especially over a weekend.
|Ask moving up nicely.|
Thanks for taking the trouble to write.
Interesting what you say. I have not seen very much at all recently on BPC’s plans. In fact nothing since the Petroleum Act, and a BPC statement last September/October suggesting that they were taking the matter forward slowly, seemingly because of the low oil price and financial constraints.
I am not in the oil business of course, but a number of experts have suggested to me that the greater likelihood of a find on the Bahamas side of the Bahamas/Cuba line, whereas Cuba’s best bet may be in very deep water at the recently delimited Mexico/US/Cuba maritime boundary.
It’s an issue I continue to follow.
|When I look for what I want to see...:
Why does he mention the Bahamas first in:
"As such, it may be the first of several similar challenges to arise in the region, if for example there are substantial new oil finds off French Guiana and Suriname; Tullow's exploration off Jamaica's south coast is successful; and other prospects of oil and gas off the Bahamas, Cuba, the Dominican Republic, Haiti, Barbados and Belize were also to result in the identification of significant, exploitable reserves."
It doesn't seem natural nor logical on multiple accounts.
So, let's ignore he knows something and just have him down for 'optimistic' ;-)|
|Yes it's been slow progress.But the potential of the bpc license is immense.Once a farmout is announced this will fly.Not only are the target prospects huge, but the chance of success quoted is high too.|
|Good read Olieslim. If only things would move a bit Bahamas way?!|
David Jessop | Oil Find Requires New Thinking On Caribbean Of The Future
Published:Sunday | February 19, 2017 | 12:00 AM
People walk near the central bank in Georgetown, Guyana. The discovery of major oil and gas deposits offshore in the Atlantic have ignited hope that Guyana will undergo an economic transformation.
In the past few weeks, Washington think tanks, financial services analysts in New York and London, and publications from the New York Times to the Petroleum Argus, have all found a reason to express a view on Guyana, the Caribbean nation they now see as set to become one of the western hemisphere's major oil producers.
It is the first sign of the remarkable transformational change being brought about by the heightened levels of offshore exploration now taking place in the region.
It makes possible imagining a Caribbean, a decade from now, in which nations other than Trinidad are energy rich, are net exporters of oil and gas, and are having to address the problems associated with wealth in ways previously no thought had been given.
As is now well known, ExxonMobil announced last June a 'world-class' oil find in its Liza-1 well in deep water in its Stabroek block, some 120 miles off Guyana's coast. It then confirmed in January this year good-quality, oil-bearing sandstone reservoirs in a separate 10-mile distant well, known as Payara-1.
In addition, ExxonMobil has said recently that it had found an additional high-quality, deeper reservoir directly below the Liza field; announced that it was preparing to drill a further offshore well; and has indicated that it was looking forward to continuing to evaluate "the broader exploration potential on the block and the greater Liza area."
Although ExxonMobil, like most major oil companies, is cautious, with its vice-president of investor relations, Jeff Woodbury, reportedly recently saying that the company expects Guyana initially to produce about 100,000 barrels of oil per day, the company is forecasting that in the Liza field alone there could be the equivalent to as many as 1.4 billion barrels of oil, as well as natural gas.
Exxon has said that it expects the first oil will 'come ashore' by 2020 using a floating production, storage and offloading unit, but while this may in the short term involve processing being undertaken by Trinidad's state-run oil company, Petrotrin, at its Pointe-a-Pierre refinery, in the longer term, a Guyanese refinery and other facilities seem likely to be required.
Beyond this it is clear that significant upgrading of much of the country's infrastructure will be necessary, to say nothing of the services that will be needed to provide for the thousands of Guyanese, Caribbean and other workers who are expected to be drawn in to support the industry's future development.
As such, it may be the first of several similar challenges to arise in the region, if for example there are substantial new oil finds off French Guiana and Suriname; Tullow's exploration off Jamaica's south coast is successful; and other prospects of oil and gas off the Bahamas, Cuba, the Dominican Republic, Haiti, Barbados and Belize were also to result in the identification of significant, exploitable reserves.
Guyana's good fortune is an important indicator of the need for change in both the way the region sees and presents itself, and is seen from the outside. It suggests that the Caribbean's economic development can change rapidly in ways that will not only transform thinking, but may also see new regional economic centres of gravity emerge.
This is not to downplay the economic problems, mismanagement and indebtedness that continue in some parts of the region, or the importance of the traditional economy and the employment it provides.
Rather, it is to observe that away from oil and gas, countries elsewhere in the region with vision need to give thought to where they might have competitive advantage; how they might participate in Guyana's development; and how, like Jamaica, they leverage their geographic location by developing the infrastructure necessary to achieve this.
Oil and gas apart, several objective factors are likely to facilitate new external thinking.
The first is the enlargement of the Panama Canal.
A wider and deeper canal opened in June 2016 enabling much larger vessels to transit to and from the Caribbean Sea, opening the possibility of increased transhipment activity, and making viable, plans to develop hubs in the Northern Caribbean at Mariel in Cuba, Kingston and elsewhere in Jamaica, Freeport in the Bahamas, and Caucedo in the Dominican Republic.
Secondly, many Caribbean nations have embarked on or have completed major port developments to facilitate, according to the Caribbean Shipping Association, energy shipments, mineral exports, and tourism in the form of the port facilities for the cruise industry.
There is evidence that changing regional approach to energy security and emerging demand for Liquefied Natural Gas in particular, is now acting as a spur for the construction of terminals and storage facilities across the region, with Jamaica and the Dominican Republic having ambitions to become regional distributors to others that are in the process of diversifying their energy sources to cleaner fuels and renewables.
Up to now and Trinidad apart, most Caribbean economic thinking has been focused on commodities, manufacturing, tourism, financial services and artisanal fisheries. This is understandable as it is where immediate opportunity lies.
- David Jessop is a consultant to the Caribbean Council. [email protected]an-council.org|
|Well mister, you may not know but any woman has romantic.
So when I tell her about:
... her and me... entangled in silk spreadsheets... silently watching the BISX tickertape... all..night..long... and when our eyes are all red and soar... then I say I'll whisper ... the National Development Plan's list of abbrevations in her ear.
she simply won't be able to resist. That's because of the romantic, you see?
Anyway, looks like the Bahama's in time will lose* quite some business to Cuba (from their main source of income: tourism.)
Potter is right. The revenue from the oil really could 'liberate' the Bahamians.|
|We ain't the only ones, take more than us to move it!
|you ain't gonna get a date with any woman if thats what you are going to talk about.|
|Any sign of the National Development Plan yet? (Looking for a date there)|
|fairly hopeful for me with a hint of very hopeful.|
|That makes two VERY confident and one extremely hopeful!
Rayrac - 25 Jan 2017 - 23:37:57 - 17345 of 17621 BPC Ltd - BPC
I'm extremely hopeful!|
|Also very confident if they find a partner it will be announced lol|
|I'm VERY confident it will be announced that the board are "confident" of finding a partner ;)|
|I'm confident a partner will be announced.|
|Yes, and here's another one!
Lot of hope buried here, trying to get out. 🏃🏻127943;🏊8640;|
|Happens every other day with this stock.|