There are a lot of risks in offshore drilling - a lot of things can go wrong.
Its the reason why companies around the world - including major companies, share the risks.
One should remember Outtrim East and PS2 ran into problems - and if not for the experience of the Operator and all the people on the rig, we could have faced a disaster.
It would take years, if not decades to accumulate the manpower and wealth of experience required to operate a field such as Buffalo alone - even BHP back then had a JV partner.
Our area of expertise is identifying geology and prospects for hydrocarbons. We are not experts in drilling and extracting hydrocarbons offshore.
We need an experienced JV partner who can bring project management and costs control in the Oil and Gas business, to operate this field.
Lets be realistic and not kid ourselves here.
Ann: Buffalo Project Update, page-31
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