Simple question for Sir Ian; Its interesting that on page 7 of the report written by him who started this furore by talking of 15 million barrels, he should write This Review provides the opportunity fo it it [UK Oil and Gas industry] to face its next thirty years and beyond supported by a better resourced, more capable and more involved Regulator that, working with greater industry collaboration, will help take us closer to the 24 billion boe prize potentially still to come Note in particular the reference to 30 years, not 15, and to 24 million not 15 or 16. Should Sir Ian not be asked what is going on, why he has changed his mind in less than 6 months? I think this has more to do with the Wood Group positioning itself for the fraccing business south of the border. Shame that a man I thought had integrity has sold his reputation in this way. On a final point he is no expert in oil he ran construction and maintenance services for the oil business, has little knowledge of drilling, or production, he had to rely on operators to give him the information for his report and as we all know they keep their information tight for obvious reasons, so his data will likely be flawed. He is also miles of target with other experts such as Alex Kemp, Donald McKay, and incidentally the UK Oil and Gas who predict a much better future for UK oil and Gas who state; The North Sea could hold more than £40 billion of “unforeseen” oil revenues in fields which were rejected for development but could now be exploited with the latest exploration and recovery. He also is referring to the North Sea only, he does not include the large fields West of Scotland that are work in progress. Clair 1 and 2 are 50 year developments peaking at production of 120/bbls day for each field. Then there is Schiehallion, Lagan, Tomore and Lancaster all due on stream in 2016 onwards, fine timing for our independence. West of Scotland is shaping to be the next boom area, all these developments come from just 20 exploration wells, an incredible strike rate . My suggestion is to follow the money, not the politician, there has been massive investment in the long term viability of the North Sea, based upon business acumen, not politics.
Posted on: Fri, 22 Aug 2014 10:21:47 +0000
Trending Topics
Recently Viewed Topics
© 2015