Overall a very encouraging announcement. The projected flow rates would easily sustain an LNG project and the cgr, although lower than hoped for, will still deliver 1000 barels of liquids per well - not bad revenue at the likely oil price when this things starts producing.
The CO2 would be at about expected levels although they probably hoped for less. At these levels they will need to guard against corrosion, so will need a little more expensive kit (pipes). The CO2 will also need to be disposed of. At Gorgon, where it's about 15%, Chevron plan to reinject it into the reservoir. A lot more work is needed at Poseidon before they decide the course of action including more appraisal wells to look at variations across the greater Poseidon structure. Given the different GWC to earlier wells, the field is compartmentalised so fluid variations (CO2 & cgr) are quite likely.
I would be very surprised if comapnies aren't running the ruler over Karoon with a view to getting in on this. Exciting times ahead.
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