Sirius Petroleum Share Discussion Threads

[htrocka2] 05/6/2017 20:08

'Also, very interesting that there`s an Oz guy who has worked on this as a Senior Process Engineer. Peter Gregory. Hmmm'

Are you suggesting DR that Peter Gregory was procured by HAVOC?...as Alan Stein himself is also an Australian.

[shez20] 05/6/2017 20:07

Don't spoil their fun Sherlock ;)

[sherl0ck] 05/6/2017 20:02

It's not the same Peter Gregory.

[drrichard] 05/6/2017 19:30

And this bit,
Bernard Looney IP Week - keynote address Page | 9
We still don’t have a fully global gas market. Prices are typically set project by project. But the growth in LNG is increasing the accessibility of gas around the globe and leading us towards a more globally integrated gas market.

The winners won’t simply be the most efficient operators.

They will be the ones who can assemble large-scale, long-term projects that take gas from where it can be most efficiently produced to where it is most urgently needed.

LNG suits us, guys and our offshore shallow development strategy might jive with BP's long term large scale project. As Schlumberger said of the SRSP association, a world class project. Bring it on!

[detective captain sean signal] 05/6/2017 19:20

Standardisation and pooling of resources go hand in hand.

[detective captain sean signal] 05/6/2017 19:19

'So let's embrace the NEW ERA, not wait for it to be thrust upon us'SRSP ADD Energy RNS'Working together with COSL and our other service providers will demonstrate that, in the oil & gas NEW WORLD ORDER, pooling resources to develop solution-based results is the way forward.'

[dr rosso] 05/6/2017 18:47

So let`s see what this BP Standardisation Project involves.



Delivery of all Subsea Wellheads up to Factory Acceptance Test (FAT) for both development and exploration / appraisal wells.
Wellheads


Delivery of all Subsea Trees up to FAT.
Trees



Delivery of all Subsea Manifolds, Jumpers / Connectors, Valves up to FAT.
Manifolds, Connectors & Valves



Delivery of all Subsea Controls and Distribution Systems up to FAT.
Controls


Delivery of all Umbilicals, Flying Leads and Termination Assemblies up to FAT.
Umbilicals









Performance management, troubleshooting of installed hardware. Ensure supplier aftermarket support available for installation, commissioning and in operation.
Services


Accountable for cross-system subsea concept development engineering for pre-Define Projects.
Concept Development
Global Subsea Hardware
• Segment provider to the three Operating Functions in BP Upstream (Projects, Wells and Operations).
• Over 300 employees in 20 global locations.
• Less than 25% of GSH employees are dedicated to a single activity set, providing circa 30% efficiency over the ‘project dedicated’ model.
• Global subsea category management is embedded in GSH, utilising line resources for a ‘single voice to the Supplier.’
$0.5M
$1.1 bn
$1.2 bn




2. Wellheads • Pipe and Connectors being standardised to reduce complexity of offering by ~70%. • Standardised wellhead components to enable agile inventory supply line to regional rig programs.
‘Smart Standardisation̵7;
4. Controls • Standard SCM across Caspian and GoM projects. • Use of GoM SFL bundle and tube on Trinidad development. • Use of Trinidad Tree Mounted Control design in Egypt.
1. Trees • Post FEED effort, Egyptian project tree will utilise the same tree core components, materials, engineering and quality requirements as a Trinidad project tree.
3. Manifolds • Use pre-qualified and repeat valves: Angola  Egypt. Common pipe, fitting, connectors and valves across GoM projects.
5. Umbilicals • North Sea Electrical Controls Upgrade umbilical call-off to FAT in less than 15 months based on standard electrical quad cable components, cross-section design and ‘way we work’ standardisation. XTs WHs Man Ctls Umb

[dr rosso] 05/6/2017 18:40

His recent experience includes the roles of Senior Engineer on the BP Standardisation Project

[dr rosso] 05/6/2017 18:35

BP Senior Investor Presentation speech extracts....




Digitization is a real game-changer.

As PwC said last year: “Digitization is nothing new, but the oil and gas industry has yet to broadly embrace its implementation on an end-to-end basis.”

That’s true, but we are now making up for lost time - fast.

Step 1 is to get people access to the data, in one place, available worldwide.

In BP we have built our own proprietary data lake.

We now have historical data for around 2,500 of our wells available to us in this data lake - digitized and available in the cloud.

Now we can begin to imagine just what’s possible in terms of faster datadriven decisions about wells and reservoirs.

Big data is revolutionising big oil.

New software is scanning our infrastructure 24/7 - allowing our engineers to optimizing production in real-time.

There are big benefits for safety, reliability and efficiency.

Digitization has helped our Lower 48 operations in the US to improve capital efficiency by 53% and reduce production costs by 28%.

I could go on - but I am sure you are all on the same journey.

And the new toolbox is not all about computing. It’s also what Bob Dudley calls “common-sense at scale”.

That means simplifying the business by rethinking processes. And it means working with suppliers to reduce costs along the chain.





Bernard Looney IP Week - keynote address Page | 6
For instance, since 2014 we have reduced our inventory holding by around $760 million, and in doing so, we have reduced the costs of running our warehousing operations by 40%.

In the Gulf of Mexico, we’ve saved $200m a year in gross logistics costs by reducing the number of offshore supply vessels from 27 to 8, and the number of helicopters from 10 to 4.

But to achieve more fundamental advances, we are determined to emulate the best in advanced industries. And that is why I and members of my team have spent time with leaders of some of the world’s most innovative companies.

In one event, we gathered together experts from Google, Rio Tinto, GE, McLaren, Phillips and Toyota at a three-day event to listen to their impressive collective wisdom.

In the quest for competitiveness, operators are generally in competition.

But there is also a valid place for collaboration - and that is in improving industry standardization. This reduces costs for everyone and benefits the consumer.

As you may know, leaders from several major operating companies are part of a new ‘Engineering Leadership Summit’ to drive collaboration in engineering across the industry. The initial focus there is on standardisation.

In BP we’re also chairing another joint industry project called ‘JIP33 - standardization of procurement specifications for equipment’.

That title is unlikely to quicken the pulse, I know, but the subject matter is very important. That’s why there are now 17 participating operators.

Last year the JIP focussed on proving the concept of standardization by developing industry-wide specifications for ball valves, subsea Christmas trees, low voltage switchgear and piping material.





Bernard Looney IP Week - keynote address Page | 7
Moving forward, these specifications will be embedded across our industry and the team are keeping their foot on the gas, looking to develop more.
Carbon and the energy transition
Talking of gas, this is a good point to turn to my second challenge - the energy transition and the drive for a lower carbon economy.
This is to be welcomed for the sake of the environment. But we also need to understand what it means for our businesses.
The costs associated with renewables are falling fast.
Those of solar are down 80% in just five years. Onshore wind costs have come down by half in the same time.
Wind and solar are now cost-competitive with fossil fuels in many situations - as hydro has been for many years.
The growth of carbon emissions is slowing dramatically - from 2.1% a year over the last 20 years to 0.6% a year over the next 20, we anticipate.
However, that is not enough to meet the ambition set out in Paris in December 2014 to keep the global temperature rise below 2oC. Meeting that ambition means emissions falling by 2035.
Will that happen? We cannot tell. We will see different governments in different places with different approaches.

But policy is not the only lever for change. Technology is also advancing rapidly on its own.

The outcome is that we are going to see a changing mix.

Renewables will play a larger part, growing around 7% a year, but from a small base so they provide around only 10% of the world’s energy needs in 2035.

Oil and gas will continue to be important. Even on a faster than likely track to reduce emissions, oil and gas are still expected to provide around half of the energy mix by 2035.





Bernard Looney IP Week - keynote address Page | 8
However, oil will be used much more efficiently. Our Energy Outlook estimates that oil will grow by just 0.7% a year.

In volume terms that is growth of around 15 million barrels a day to 110 million barrels a day by 2035.

That projection would be 17 million barrels a day higher if not for expected efficiency gains in internal combustion engines - and up to 1.5 million higher if not for electric cars.

We expect there will be around 100 million electric vehicles on the road worldwide by 2035, up from 1 million today. But for perspective, that’s out of a global fleet of 1.8 billion.

By 2035, the main source of demand growth for oil will not come from cars and trucks and planes, but from petrochemical plants making plastics and fabrics.

Quite a turnaround for the fuel that powered everything from the Model T to the Moon-shots.

However, although flatter, the demand will still be there over the longer term.

What does that mean for us as producers? It means oil is a value play, not a volume one. But it’s still long-term.

The winners will be those who get to market with their product most economically, year after year, for decades to come.

And what about gas? What does the future hold? It’s different, in a few ways.

Demand for gas is growing faster than oil - we project 1.6% a year to 2035.

Natural gas is the power generation feedstock of choice for many places. It’s a lower-emission alternative to coal. It’s a flexible baseload back-up to renewables.


Bernard Looney IP Week - keynote address Page | 9
We still don’t have a fully global gas market. Prices are typically set project by project. But the growth in LNG is increasing the accessibility of gas around the globe and leading us towards a more globally integrated gas market.

The winners won’t simply be the most efficient operators.

They will be the ones who can assemble large-scale, long-term projects that take gas from where it can be most efficiently produced to where it is most urgently needed.

In the last decade that has classically been within the US. We are also seeing demand ramp up in China and expect to see supply rise there too as Chinese shale becomes a major play. And of course, Europe is also hungry for gas.

Choices
So, we have these two profound challenges - of competition and carbon - but we can see how to respond to them.
We all do that in different ways, so I’ll focus now if I may on some of the choices we have been making in BP.
We know oil will play a significant role in the energy transition, so ensuring it is competitive will be important.
So we’ve made the choice to capitalise on our incumbency in key regions to extend access to competitive oil resources.
One example is the 10% interest we’ve been awarded in Abu Dhabi’s ADCO onshore concession. It provides us with access to world-class competitive resources out to 2055 - resources we know well from working with a long term partner.
Similarly in Azerbaijan, we’ve signed principles of agreement to extended development of the ACG oil field out to 2050, with economics that will keep us highly competitive.
But as well as investing, being competitive also means making the choice to pull back when necessary.





Bernard Looney IP Week - keynote address Page | 10
And you saw this with our decision not to proceed with drilling in the Great Australian Bight.
This was a tough decision, but ultimately the project would not compete with other upstream opportunities in our global portfolio.
So what about competitive gas?
The role gas needs to play in the transition can’t be overstated.
Gas is a cleaner, lower carbon alternative to coal, and is abundant in supply.
Gas is a growing proportion of BP’s portfolio and six out of seven of our start-ups this year are gas projects.
We’ve added to our gas position in Egypt with a 10% interest in the giant Zohr field offshore.
We’re working with CNPC in China to explore for shale gas.
We’ve increased our interest in Oman.
And we are very excited about the new access we have with Kosmos in Mauritania and Senegal. We think this is a basin with enormous potential to produce significant volumes of gas very competitively.
These are just some of the recent choices we’ve been making and we will be sharing more of our plans with the market next week when we deliver an update on our strategy.
Conclusion
So let me conclude by observing that this century will not just be about big oil, but smart oil.
It will mean harnessing all the gains offered by digital, producing barrels based on value rather than volume, and learning from smart people, regardless of the industry.
To me, it’s about hearts and minds.
We have the heart - the desire to meet these challenges. And we have the minds to make it happen. Our industry has a long history of adapting to change, and we have the capability to do so again now, and at pace.





Bernard Looney IP Week - keynote address Page | 11
Which is why I am confident of our ability to meet the challenges head on.
So let’s embrace the new era, not wait for it to be thrust upon us.
Having recently watched the movie ‘Jackie’ I am reminded that JFK said: “Change is the law of life. And those who look only to the past or present, are certain to miss the future.”
We don’t intend to miss the future in BP - and I’m sure none of you do either.
I’m excited by the challenge and confident that together we will make the right choices.
Thank you.

[dr rosso] 05/6/2017 18:31

BP Smart Standardisation Project. Have a read around this.

Also, very interesting that there`s an Oz guy who has worked on this as a Senior Process Engineer. Peter Gregory. Hmmm

[the truth teller] 05/6/2017 16:30

Looks like you got no chums bums.5,4,3,2,1

[bumhammer] 05/6/2017 16:05

Anyone know if Red_or_Black is still invested here?

[the truth teller] 05/6/2017 15:55

That bloody bowl done arf look good!!!!Now where is my debit card, it's a no brainer.

[the truth teller] 05/6/2017 15:52

Shez Shez Shez Because they want to squeeze the last drop out your wallets before they pull the delta plug.0.93p. Surely it must be worth a punt.What could possibly go wrong

[drrichard] 05/6/2017 15:43

Looks like you may be right, Shez. The important question is why.

[carrbradshaw] 05/6/2017 13:51

Very impressive reading up on Ben Harrington - he knows his stuff and I bet he's got some decent contacts - exciting times - next few weeks should be very interesting.

[rugbybloke] 05/6/2017 13:30

Agree with Risky, the blog and Ben are genuine. Whether the rumour has any basis in reality is yet to be seen. Fingers crossed it has.

[htrocka2] 05/6/2017 13:00

'The website is a personal blog made to look credible
Good effort but no cigar'


Nevertheless, you have to ask yourself is the Gregory, Lasmo,BP link just a coincidence?. If the BP rumour has any substance then the 'Gregory' link, hence his evaluation of SRSP's projects, will be of paramount importance on BP's decision to go ahead with the deal.

[riskybisky] 05/6/2017 12:59

Hmmm I may be naive but it looks pretty credible to me.
And what's wrong with blogs anyway? Looking a bit more at the web site I see there are 52 pages that each contain summaries and links to articles. Each of these 52 pages has a number of these around 15 So roughly there are 780 articles. Not exactly just thrown together. These articles date back to 14th Feb 2014.

Anyone who doubts the integrity of this should go and have a look at the website themselves:
hxxps://www.betaville.co.uk/

I see that one can pay a subscription presumably for further information. This answers the question of why the site exists which was posed recently somewhere as there are no ads on the site.

Have a look at the author's profile pretty impressive:
hxxps://www.betaville.co.uk/authors/ben-harrington/

.... decade working in financial journalism at the highest level in the United Kingdom covering mergers & acquisitions, private equity, hedge funds, stockmarkets and restructuring. I began my career on trade publications, such as Financial News, Air Finance Journal and Mergermarket.com. In 2005, I joined The Daily Telegraph as its first ever M&A correspodent and broke several major stories, such as Qatar's attempt to buy J Sainsbury for £12 billion in 2007. I have also written extensively for The Sunday Telegraph following the merger of editorial teams at the Telegraph Media Group. In 2013, I left the Telegraph Media Group to work on freelance basis and have since been published in the The Sunday Times, The Times, the Daily Mail, the Mail on Sunday, Private Equity News, Financial News, the Australian Financial Review and Dealreporter. I set up Betaville in 2014 and have broken several agenda-setting scoops, including the £3.5 billion merger of Carphone Warehouse with Dixons Retail in 2014. - See more at: hxxps://www.betaville.co.uk/authors/ben-harrington/#sthash.G7QFqnn9.dpuf


There's a "scoops" section which lists the following:

Scoops
-Mega consortium comes together for £2 billion bid for London City airport

(14-12-2015)
-Argus Media appoints bankers to carry out £1 billion sale

(11-11-2015)
-Saudi Arabian diplomat takes legal action to recover £25 million investment in Ryan Corp's Hertsmere House scheme

(26-10-2015)
-ABI linked with £75 billion takeover bid for SAB Miller

(15-09-2015)
-Quindell in talks to sell legal services unit to Australian group Slater & Gordon

(21-01-2015)
-British Airways owner IAG raises EURO 1.3 billion bid for Aer Lingus

(02-01-2-2015)
- FTSE 250-listed Kier Group in talks to buy Mouchel for £400 million

(29-11-2014)
- Candy Brothers turned down multi-million pound bridge loan for £1 billion Herstmere House project led by mysterious Irish developer

(02-06-2014)
-Deutsche Annington circles rival EURO 4 billion German property company Gagfah

(21-05-2014)
-Mitchells & Butlers prepares £250 million bid for Orchid pub company

(24.04.2014)
-Sir Stuart Rose steps down from Blue Inc ahead of a potential flotation on the London market

(23.04.14)
-SAS swoops on Yorkshire Water with secret purchase of 10pc shareholding

(14.04.14)
-Weir Group lines up cash element for revived Metso offer

(10.04.14)
-Weir Group linked to potential £8.5 billion merger with Finnish rival Metso

(07.03.14)
- Carphone Warehouse in £4 billion merger talks with Dixons Retail

(24.02.14)
- Billionaire Ruia brothers to make £900 million bid for Essar Energy

(14-02-2014)
- See more at: hxxps://www.betaville.co.uk/scoops/#sthash.1tVIQHRL.dpuf