Hi Ya, good to hear your wisdom.
I was thinking that the costs of running a project in offshore locations would atleast cost $20-30 a barrel. To redevelop a field would cost atleast $30m, depending on wells and production facilities. Minimal size if stand alone would need to be 10mmbo to get a green light, tie in with the neighbouring venture would be a robust project needing 5mmbo.
Depending if the old wells can be re-entered would result in greater cost savings, but I would assume 1-2 wells are needed to flush unswept compartments and newly identified ones. These are relatively cheap as water depths are shallow.
I eagerly await the results of the hard work the company has put into this project. If results are good a bottle of champagne is going to be popped.
We are in an exciting period with plenty of projects moving forward.
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