Q&A were mainly focussed on funding, FID, equity sale by Cairn (if & when at the right time). Transcript should have all this. - Not much to spend this year, their net book value is now USD484.5mil (as this carried the costs for the govt so far) - SNE FID should be by end of this year. regardless of the arbitration Govt & JV keen to progress this project. JV meeting was last week with WPL. - Exploitation program submitted, as govt asked for additions from the FEED study findings. ESIA already approved. - 3D High res seismic underway to understand connectivity of the upper 400 sands & help with well orientation. Data will serve as baseline for 4Dseis. - Funding terms almost done. Govt was free-carried till appraisal so wont b free-carried for Development activity. - Cairn also picked up 8 permits offshore Israel. Will b drilling soon in Mexico. Sold down equity in Nova. Kraken-Catcher going well for them.
I guess that's pretty much it with key contract awards for SNE almost complete, - Halliburton & Baker awarded contracts for drilling services - Ocean Drilling got the 2 drillships, (BlackRhino & BlackHawk currently in the GoM with HESS & Anadarko) - Modec working on the FPSO - SIA will provide the subsea production system, risers, umblicals, flowlines etc
FAR Price at posting:
6.1¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)