SERINUS [SEN]

The snag with NNPC/NPDC’s insistence on taking over the operatorship of OML 40 is that Elcrest’s financing banks will not permit the company to sign a JOA which gives operatorship to NPDC. Owing to its track record, Elcrest and its banks have no confidence in NPDC to operate the block efficiently and in a cost-effective manner. Elcrest is also contending that the price it offered for the 45 percent working interest in OML 40 includes a premium for the company being made operator of the block. Without operatorship, Elcrest will be forced to cancel the transaction, forfeit $15.4 million, and OML 40 will revert to status quo, with Shell as operator.

Elcrest is therefore torn between the devil and the deep blue sea. It has very little time to decide on its next course of action, as the execution of the PSA that Elcrest signed with Shell, Total and Agip, triggered a 180-day period during which time the government approval to the transaction must be obtained. That 180-day period shall expire on September 30, 2011, hence the sleepless nights being experienced by Offor and Blair at the moment.

Źródło

Main Structural Features of Block M
There are two main structural features of Block M, which are Belait synclinal stratum and Belait anticlinal stratum, also known as the Belait Field. The field mainly locates at the junction of Belait Faults and the east extending faults of Belait anticlinal stratum. Belait Field covers an area of nearly 122km2. Oil was first found there in 1913 and extractive work was carried out in Belait Well 2 between 1924 and 1931. After that, oil and gas testing in other wells was also successfully carried out. There are 18 wells in Belait Field since 1912. 33,000 barrels of oil were produced from Belait Well 2 between 1924 and 1931. Besides, all the Belait Well 11-14 and Belait Well 15-18 drilled in Talingan region indicate that the oil and gas reserves are rich.

The first recorded exploration in the region was undertaken by British Borneo, Anglo Saxon, Malayan and Nederland in early 1900s. These companies mostly undertook geological field operation and mapping. At that time, abundant of hydrocarbon leaking onto surface was found and a drilling activity was carried out.

Witam

Pewnie znowu bana dostanę ale mi się wydaje że ta koncesja jest już nasza ;-), nie jestem tylko pewny czy na zasadach tych o których tutaj dyskutowaliśmy - mam nadzieję że info będzie wkrótce ;-), po drugie ja zawsze czytam między wierszami i może znowu za dużo wyczytałem ale jak dla mnie to my mamy tą koncesję, to jest oczywiście moje prywatne zdanie i proszę się nim nie podpierać ;-)