Serica Energy Share Discussion Threads

[bountyhunter] 29/5/2018 21:33

maybe the world's leading oil and gas industry services company (not a US company) can provide the required cover for Rhum if the US will not oblige...

"Schlumberger is the world's leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. Working in more than 85 countries and employing approximately 100,000 people who represent over 140 nationalities, Schlumberger supplies the industry's most comprehensive range of products and services, from exploration through production and integrated pore-to-pipeline solutions for hydrocarbon recovery that optimize reservoir performance."

[bountyhunter] 29/5/2018 21:28

presumably the US as it was in the GoM, however I can't believe that the whole world relies on the US for these services

[sawney] 29/5/2018 21:20

Since then, the BOEMRE report has highlighted that a perfect storm of minor failings conspired to cause the disaster, minor failings that were not specifically HPHT related but could have taken place as a part of any project.")

Point taken...but who was actually called in to help at the time, despite the finger pointing...? It wasn't about who was to blame, but about who could help at the time, to restrict/avoid an environmental disaster.

[sawney] 29/5/2018 21:13

yeah, why not ?....seems to me, on paper, BP need to offload by November....whatever.

[bountyhunter] 29/5/2018 21:05

FB/sawney, yes that occurred to me as well - could be a useful 'Plan B' to guarantee completion?

(sawney - that article is 6 yrs old so things may not still be the same, and in any case part of the conclusion was "The fact that the Macondo well disaster occurred on a deepwater, HPHT prospect instantly made it the most famous HPHT well in the world. Since then, the BOEMRE report has highlighted that a perfect storm of minor failings conspired to cause the disaster, minor failings that were not specifically HPHT related but could have taken place as a part of any project.")

[sawney] 29/5/2018 20:38

They could always delay R3 until after the big TT (Trump Tantrum), and obviate further hthp risk in the meanwhile.

That's possible.... perhaps BP could offer a free carry on R3 at a later date...?

[fardels bear] 29/5/2018 20:29

Not like Rhum is a new producer though, is it? They could always delay R3 until after the big TT (Trump Tantrum), and obviate further hthp risk in the meanwhile.

[sawney] 29/5/2018 20:28

wells meeting the definition have been safely drilled and completed around the world for decades.

Mmmm...

[bountyhunter] 29/5/2018 20:22

"In the UK, HPHT is formally defined as a well having an undisturbed bottomhole temperature of greater than 300oF [149oC] and a pore pressure of at least 0.8 psi/ft (~15.3 lbm/gal) or requiring a BOP with a rating in excess of 10,000 psi [68.95 MPa]. Although the term was coined relatively recently, wells meeting the definition have been safely drilled and completed around the world for decades."

[bountyhunter] 29/5/2018 20:19

yes I know, that is the known unknown ;)

[sawney] 29/5/2018 20:17

Really not sure...but it is an HPHT well.....

[bountyhunter] 29/5/2018 20:11

But do Serica really need the US license to proceed? The Russian's presumably handle their H&S without the US as some other countries presumably including Iran. I realise it's high pressure but couldn't Serica get the H&S cover required from somewhere else maybe Norway (assuming the UK lacks the required expertise which I don't know for sure)? And if Serica went ahead anyway then I can't believe the US would refuse to help in the unlikely event of an emergency involving UK personnel as the US would then be punishing the UK and not Iran as they also would if they deny us 5% of our gas supply from UK waters.

DH and one or two others will probably know a lot more about this than me though through their oil industry expertise.

[sawney] 29/5/2018 19:48

they are of course still in the 'deal' with the rest of the world ex USA.

isn't that the added complication..??...the US wants the "strictest sanctions in history"...and the EU wants to carry on paying the IOC for production..?? (as opposed to payments going escrow ?)

It doesn't alter my view that the deal will "eventually" be done...too much at stake for the UK Gov

[fardels bear] 29/5/2018 19:22

Agreed, bh..

[bountyhunter] 29/5/2018 19:21

WITJ - maybe, but I get the feeling that Trump's modus operandi is to make a load of threats and then try to negotiate at the end of the day. It does largely depend on the Iranians - they are of course still in the 'deal' with the rest of the world ex USA.

[bountyhunter] 29/5/2018 19:17

I agree dh, BP will clearly want no Iran connection more than ever now given their US interests and Deepwater Horizon legacy. As you said a while ago it would surely be in Serica's interests to complete on say 30 Sept. whatever.

[whiskeyinthejar] 29/5/2018 19:15

bh, I think Trump is more likely to bomb Iran. NYT reported this week that Iran is secretly working on long range missle program. So capable of hitting USA.

[dunderheed] 29/5/2018 19:10

You know bh/FB - I have a feeling if N Korea goes well - he will feel more empowered? There's a lot of bloody difference between NK and Iran though!!
Either way, I think personally, that a SQZ/BP solution will be worked out for Rhum assets?

[bountyhunter] 29/5/2018 18:02

if not maybe you could offer him discount to buy those you need to sell ;)

on the Iran front if the Korean summit actually goes ahead and is positive maybe Trump will start being a bit more chummy with Iran next as he's probably chasing the nobel peace prize!

[dunderheed] 29/5/2018 16:46

Actually bh, I think he who shall not be named is long already.
Just a feeling like...
I heard there are a couple of large (but not really large if you know what I mean?)sellers in the mkt today from me broker?
Which is a bit of a bottom for me, because I have promised a mate of mine some cashflow to help him out temporarily! (LOL!)

[nigelpm] 29/5/2018 16:28

Slow dwindle down at the moment on little news and fall in poo. Times will change I have little doubt about that.

[bountyhunter] 29/5/2018 16:20

just caught up here (on holiday) and also took a quick look at the fantastic new thread - it took me all of 5 secs to work out that Nige must be still out!

...meanwhile just about the only performer for me today in CLNR where I'm almost in the black now (was at one point today)

[pineapple1] 29/5/2018 16:11

Nigel threw a party and nobody turned up to trash it (he wanted to wield his moderating stick . Looks like nobody took the bait.) ha ha