Or, to play devil’s advocate, there has been a technical problem.
Our house looks out across the Forth estuary and there are usually several boats of various types including tankers anchored in the various designated anchorages. I suspect that although inconvenient for the crews, there will be considerable savings on port charges.
Thinking about the shuttle tanker, 500,000 barrels @ 20,000 bpd = 25 days which means that as loading/offloading/travel will presumably be quite quick, the shuttle tanker has to hang about somewhere for three weeks between loads…why not hanging onto the stern of AM
F Flo C
Or simply just dropping off personnel.
Now off to Rotterdam
02:42 am CDT 22/07/2019
Just what the doctor
From Amaja on LSE:
My sources in the Rotterdam harbour tell me that she carries 56.000 tons of crude oil which is the equivalent of 455.000 bbls. I got this info from a very reliable source and crossed checked the information with a second person in the right position.
This time, I will not divulge my (external) source as I have the feeling that someone is trying to put a lid on it. However, the wheelings and dealings in the Rotterdam harbour are far away from Surrey, let alone Aberdeen.
Perhaps Hurricane will corroberate the info at some stage, but probably not before months to come.
We need to be exporting closer to the standard 600,000bbls +/- 5%, to get export costs down.
Hang on, this is called the EPS because its main function is to gather data on how the reservoir responds to oil being drawn off. So the amount of oil in a shipment is secondary.
Dr T (and his loyal investors) should now be enjoying the success of this wild adventure.
Even the suggestion that you could squeeze tens of thousands of tons of crude oil from granite strata below the Atlantic would have provoked laughter just a few years
It is an EPS. What is the rush to get the oil to market.?
Look after the pennies. what is the benefit in increasing your export costs by more than 25%?
I think it’s about the availability of the shuttle, you don’t want to get to the point where you’re slowing production so that you don’t hit AM capacity. This I expect will become far more important during a WOS winter.
It looks like summer out there to me.
There are more than enough shuttle tankers in the North Sea especially in the summer. FPSO’s are being decommissioned faster than new ones are going on location and production is slowing on the majority of those remaining in the North Sea.
We will have access to a pool of Teekay shuttle tankers under a contract affreightment. We give Teekay notice, they send a tanker.
It is rare there aren’t any shuttle tankers anchored off Scheveningen, Slagen or Aberdeen. The PetroAtlantic spends more time at anchor off Cromarty, whilst her sister sits of Lerwick than they do shuttling to and from Foinavon.
As its quiet, something to ponder, Lancaster EPS, it will take 6 - 12 months to prove the reservoir model works. So what if it only takes six months? It is proved by the end of November. By then we should have a Lincoln well suspended as a producer, and a discovery at Warwick, and a decision by the joint venture to proceed with GWA full field development and more drilling on GWA in 2020. Will Dr T be pushing for one of those three wells to be a deep play?
It’s going to be a long wait - possibly. We could hear something this side of the year or it may be April 2020 when things kick off properly in a good way.
I’ve joined Longwait kind of in the deep freeze. Markets have gone nuts, deep thanks to the united haircuts for that.
What is the benefit of a deep drill? I thought the idea was to use seismics to find places where the fractured basement has formed a trap which is higher than connected oil bearing strata. Obviously ii would make sense to continue to drill down to the OWC when they find that there is indeed oil in the FB trap, but is that what you mean?
Thanks in advance for an
Floss, Just thinking that what he hoped to find might be somewhere else on the GWA structure? I don
t really understand the geology, but was he hoping to find the basement which confirmed GWA was a single or connected structure? The Lincoln and Warwick wells will be relatively shallow and not answer Dr Ts question? We will probably have to wait for a Malcy interview in November for the answer.
Good to see the POO go up to $61.4 today
Amundsen Spirit due at Lancaster 5am 17th August.
Hopefully taking away the 1 millionth barrel. They should have kept back that one and a sold 1cc drops.
Yes third offload this weekend as expected, the share price is now flagging at below 40p, so there is nothing wrong with issuing a PR statement at the very least to publicise the sale of the 1 millionth barrel of Lancaster oil. I am also hoping for a drilling update around the 22nd August.
Rumours that they are having to go fishing. Again.
The Amundsen Spirit should be unloading the millionth barrel overnight and be on its way to Rotterdam Sunday afternoon. The FPSO holds 600,000 barrels of oil, therefore due to the vagaries of the Atlantic margin weather I would guess they would want to offload before 500,000 barrels were in storage.